Authoritative interview丨Guo Shuqing: Promote finance to better serve the real economy
Finance is the core of modern economy. Since the beginning of this year, the financial industry has fully supported the prevention and control of the epidemic and the recovery of economic and social development. In the first half of the year, the accumulated new RMB loans exceeded 12 trillion yuan. Which areas do these funds focus on? What kind of support will the financial industry provide for economic development in the future? Look at the interview with Guo Shuqing, Secretary of the Party Committee of the People's Bank of China and Chairman of the China Banking and Insurance Regulatory Commission.
The latest data shows that at the end of June, my country's inclusive small and micro enterprise loans increased by 28.4% year-on-year. At the same time, the average interest rate of newly issued inclusive small and micro enterprise loans was 5.94% in the first half of this year, a decrease of 0.76 percentage points from last year.
Guo Shuqing, Secretary of the Party Committee of the People's Bank of China and Chairman of the China Banking and Insurance Regulatory Commission: The support for loans to small and micro enterprises is the greatest. Not long ago, the executive chairman of the Association of Small and Medium Enterprises said that there are more than 30 million small and micro enterprises across the country, and now more than 20 million have obtained bank loans. According to our statistics, more than 23.6 million have obtained bank loans. At this level, more than two-thirds (small and micro enterprises) can get bank loans, one of the best in the world.
The loans issued have increased and interest rates have fallen. What has made many companies more pleased is that the China Banking and Insurance Regulatory Commission and other five departments have introduced policies to defer the repayment of principal and interest on loans to small, medium and micro enterprises that are experiencing temporary liquidity difficulties due to the epidemic. By the end of June, 2.46 trillion yuan of loans for small, medium and micro enterprises and foreign trade enterprises had enjoyed this policy preference, and the tight capital chain of many enterprises had been eased.
In the first half of the year, which areas of the 12 trillion yuan of newly-increased loans in the banking industry went to? Guo Shuqing revealed that manufacturing, infrastructure, technological innovation, and small and micro businesses such as agriculture, rural areas and farmers are the focus.
Guo Shuqing, Secretary of the Party Committee of the People's Bank of China and Chairman of the China Banking and Insurance Regulatory Commission: This year, the growth of manufacturing loans is particularly large, and the increase in the first half of the year is equivalent to the sum of the past four years. Medium and long-term loans are mainly used for investment in fixed assets. This year's proportion is also higher than in the past, with an increase of 13.4%, which is also rare in recent years. Both the total amount and the structure of the loan are very good, with great improvements. Hastened the recovery of our economy.
CCTV reporter Wang Lei: What plans are there in the second half of the year to better support the real economy?
Guo Shuqing, Secretary of the Party Committee of the People's Bank of China and Chairman of the China Banking and Insurance Regulatory Commission: The Party Central Committee and the State Council are very concerned about small, medium and micro enterprises. The general secretary recently held a forum with entrepreneurs. The next step is to support inclusive small and micro enterprises. In addition, we will further promote the development of the capital market and the development of direct financing. In the first half of the year, the proportion of direct financing increased by several percentage points, from 32% to 36%. This is the combined financing of stocks and bonds. We hope this momentum can be maintained and more direct financing can be provided to support enterprises.
Guo Shuqing said that in the second half of the year, the financial management department will closely follow the requirements of the "six guarantees" and "six guarantees", and better combine the stability of enterprises to ensure employment with serving private, small and micro enterprises, and promote a significant reduction in comprehensive financing costs. Substantially increase medium and long-term financial support for advanced manufacturing and strategic emerging industries. Increase the coordination of financial and employment, industry, and regional policies to form an integrated effect. For companies that are experiencing temporary difficulties but still have prospects, financial support should be increased to promote the restoration of normal economic and social cycles.
Guo Shuqing, Secretary of the Party Committee of the People’s Bank of China and Chairman of the China Banking and Insurance Regulatory Commission: The China Banking Regulatory Commission and the People’s Bank of China have also studied some reserve policies to further support economic development. The more prominent problem now is that the service industry has not completely returned to its normal state. We are also adopting some special measures, such as emergency loans and emergency financing. We are exploring and conducting trials in some provinces. We believe that we will do better in the second half of the year than in the first half.
(CCTV reporter Xiao Pu Zhouxuan Wang Lei Wang Xuan Zhuang Shengchun Du Leiming Zhang Yong Zheng Zhongying Yu Tan)