The hottest March credit boom was moderate, and th

2022-08-13
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The moderate easing policy orientation of the credit storm in March remained unchanged

the moderate easing policy orientation of the credit storm in March remained unchanged

China Construction machinery information

Guide: 1.89 trillion yuan was added in March, the proportion of bill financing fell sharply, and the growth rate of M2 was as high as 25.51%; In the first quarter, the new credit has reached 4.58 trillion yuan. The monetary credit data of March released by the central bank last Saturday showed that the new credit of RMB in that month was 1.89 trillion yuan, the loan growth rate reached 29.78%, and M2 increased

in March, a new 1.89 trillion yuan was added, the proportion of bill financing fell sharply, and the growth rate of M2 was as high as 25.51%; The new credit in the first quarter has reached 4.58 trillion

the monetary credit data of March released by the central bank last Saturday showed that the new credit of RMB in that month was 1.89 trillion yuan, the loan growth rate reached 29.78%, and the M2 growth rate was as high as 25.51%. Although the data far exceeded market expectations, it added another digital proof for China's economy to turn from decline to recovery

according to statistics, by the end of the first quarter, RMB new credit had reached 4.58 trillion, approaching the increase of last year. Among them, not only did the new monthly credit in March hit a new record, but the growth rate of M2 also broke the historical record. Industry insiders predict that in April, the bottom line of 5trillion will be easily broken without suspense

the "blowout" of new credit in the first quarter undoubtedly brought worries to the market that the central bank may shrink liquidity. In response, Wang Hongzhang, Secretary of the Discipline Inspection Commission of the central bank, said in an interview that the tone of moderately loose monetary policy will continue and will not change

the first quarter regular meeting of the monetary policy committee of the central bank recently made it clear that the monetary policy orientation in the next stage should seriously implement a moderately loose monetary policy and maintain the continuity and stability of the policy. We will further rationalize the transmission mechanism of monetary policy, maintain sufficient liquidity in the banking system, and ensure that the total amount of money and credit meets the needs of economic development

in fact, the credit data in March also showed that the loan structure has improved, and the proportion of bill financing has decreased significantly

in March, the new loans of enterprises were about 1.63 trillion yuan, of which the short-term new loans of enterprises increased by 314.6 billion yuan to 472.8 billion yuan from the previous month, accounting for 25% of all new loans, an increase of 10.21 percentage points from the previous month; Bill financing decreased by 117.9 billion yuan to 369.1 billion yuan from the previous month, accounting for 19.53%, a decrease of 25.97 percentage points from the previous month; The proportion of medium and long-term loans continued to decline, and the cost of new plastic packaging materials and new technologies continued to rise to 41.76%. In addition, residents' loans increased significantly compared with the previous two months. Residents' new loans in the month were about 257 billion yuan, including 142.3 billion yuan in the short term and 114.5 billion yuan in the medium and long term

According to the analysis of insiders, the increase of short-term loans means that the financing needs of small and medium-sized enterprises are being met in succession; The medium and long-term loans account for nearly 50% of the new loans of enterprises, indicating that the loans are still divided into on-site foamed polyurethane and factory prefabricated rigid foamed polyurethane plates according to the process, which are more likely to flow into the field of infrastructure construction

Yang Zaiping, the full-time vice president of the banking association, said in an interview that the rapid growth of credit belongs to counter cyclical regulation and has certain rationality. It is a response to the moderately loose monetary policy and the release of the last liquidity depression

Central Bank: ensure that money and credit meet the needs of economic development

the first quarter regular meeting of the monetary policy committee of the central bank, after studying the orientation and measures of monetary policy in the next stage, believes that we should conscientiously implement the decisions and arrangements of the CPC Central Committee and the State Council on macro-control, implement moderately loose monetary policy, and maintain the continuity and stability of the policy. Further straighten out the monetary policy. In 2010, the company carried out the construction transmission mechanism of the 40000 ton/year high wet modulus viscose staple fiber project through private additional issuance, so as to maintain sufficient liquidity in the banking system and ensure that the total amount of money and credit meets the needs of economic development

the meeting believed that we should continue to optimize the credit structure, increase financial support for weak links such as "agriculture, rural areas and farmers" and small and medium-sized enterprises, effectively solve the financing difficulties of some enterprises, and strictly control loans to enterprises in industries with high energy consumption, high pollution and overcapacity. We will continue to promote financial reform and innovation, strengthen risk management, and enhance the ability of financial enterprises to withstand risks

The meeting pointed out that in order to cope with the serious impact of the international financial crisis and promote steady and rapid economic development, China has timely adjusted its macroeconomic policy orientation and adopted a series of policies and measures to expand domestic demand and promote economic growth. At present, the policies and measures taken have achieved initial results, and there are some positive signs. The banking system is abundant in liquidity, money and credit are growing rapidly, and the financial system operates smoothly

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