China News Agency, Beijing, August 22 (Reporter Wang Enbo) Three times the RRR cuts to release 1.75 trillion yuan (RMB, the same below) of long-term liquidity, and successively introduced 300 billion yuan special re-lending and 1.5 trillion yuan inclusive re-lending, Rediscounting... Faced with the impact of the new crown pneumonia epidemic, China's financial sector has supported the real economy this year.
However, helping market entities to tide over difficulties and develop smoothly cannot only rely on "making great efforts to create miracles", but also with precision and direction. Has these financial "running water" poured into areas that urgently need "blood transfusion"?
The epidemic broke out suddenly, and many small, medium and micro enterprises and individual industrial and commercial households were directly "buying the bottom". In the face of difficulties, although some "little bosses" actively rescued themselves and tried to break through adversity, "lack of money" is still a difficult obstacle for them to overcome.
Zhejiang Anji Hengfeng Sanitary Material Co., Ltd. was originally a sanitary material processing plant. After the outbreak, it tried to transform its production line into protective clothing, goggles and other epidemic prevention materials. However, under the condition that a lot of costs have been invested in the preliminary approval and related material procurement, part of the payment was not returned during the epidemic, and the increase in the cost of logistics raw materials has greatly exceeded the budget. Seeing that the production line is ready and the labor is in place, it is stuck in the funds to purchase raw materials.
"Never fall short of success!" At a critical moment, business owner Wang Guoping learned of the comprehensive financial service platform launched by Zhejiang Province. On the afternoon of submitting the loan application online through the platform, he received a call from the customer manager of the local rural commercial bank. After understanding the situation in detail, the bank immediately issued a 2 million yuan "anti-epidemic aid enterprise special loan", which injected capital "live water" into the first batch of production after the conversion of the enterprise.
The continuous improvement of the intensity and accuracy of China's financial assistance policies to assist enterprises has provided soil for the emergence of more similar stories.
In order to accurately drip funds into small, medium and micro enterprises, the People's Bank of China has innovated two policy tools that support the deferred repayment of loans for small, medium and micro enterprises and the inclusive small and micro credit loans to reach the real economy. Nowadays, "special loans" have become the "standard equipment" for many banks and local governments to support enterprises. For example, the China Development Bank and the Export-Import Bank of China have arranged "special relief funds" with a total amount of 100 billion yuan; Wuhan and many other places have established special funds for the relief of small, medium and micro enterprises.
With the efforts of all parties, China's loan coverage has increased significantly this year. At the end of July, the balance of inclusive small and micro loans was 13.7 trillion yuan, a year-on-year increase of 27.5%, a record high for five consecutive months; an increase of 2.2 trillion yuan in the first seven months, an increase of 881 billion yuan year-on-year, supporting small and micro businesses The main body was 30.07 million, a year-on-year increase of 21.7%.
It is worth noting that loan interest rates have also continued to decline. The average interest rate of newly issued loans to small and micro enterprises in July was 5.27%, a decrease of 0.91 percentage points from the same period last year.
Gao Fei, deputy director of the Financial Market Department of the Central Bank of China, said that some specific policy measures have made positive progress. For example, judging from the progress of the two direct instruments, from June to July, the 1.44 trillion maturity loan principal of 506,000 companies has been extended, of which the principal of inclusive small and micro loans has been extended by 412.6 billion yuan; Small and micro credit loans amounted to 1.6 trillion yuan, an increase of 501.7 billion yuan year-on-year.
In this context, the overall operating conditions of market entities have improved. According to statistics, there were 130 million market players of various types in China at the end of July, an increase of about 9 million from the end of the previous year. There are observations that the reason why small, medium and micro enterprises and individual industrial and commercial households have not experienced large-scale bankruptcies and large-scale unemployment is due to the timely and appropriate support of fiscal and financial policies.
Wen Bin, chief researcher of China Minsheng Bank, believes that the current macroeconomic situation in China has stabilized and improved, but finance still needs to increase support for the real economy and maintain a flexible and appropriate monetary policy. Focusing on small and micro, precise drip irrigation and effectively reducing the financing costs of the real economy will continue to be the focus of monetary policy and financial work in the second half of the year. (Finish)