[Commentary] On July 13, the State Council Information Office held a press conference.

According to Sun Guofeng, Director of the Monetary Policy Department of the People's Bank of China, since 2021, a prudent monetary policy has been flexible, precise, reasonable and appropriate, and stable, strengthening support for the real economy and achieving positive results.

  [Concurrent] Sun Guofeng, Director of the Monetary Policy Department of the People's Bank of China

  In the first six months, new RMB loans were 12.76 trillion yuan, a year-on-year increase of 667.7 billion yuan, maintaining strong support for the real economy.

At the end of May, the balance of inclusive small and micro loans increased by 31.6% year-on-year, an increase of 1.3 percentage points from the end of the previous year.

From January to June, the corporate loan interest rate was 4.63%, a year-on-year decrease of 0.16 percentage points.

In May, the weighted average interest rate of newly issued inclusive small and micro enterprise loans was 4.93%, a decrease of 0.15 percentage points from December last year (2020).

  [Explanation] In addition, the central bank has adopted measures such as reducing fees and concessions and increasing support for enterprises in key industries to continuously improve the level of financial services for market entities such as small and micro enterprises.

  [Concurrent] Zou Lan, Director of the Financial Market Department of the People's Bank of China

  As of the end of May, the country (China) has established a key enterprise database of 383,000 companies, and financial institutions have issued 7 trillion yuan in loans to 180,000 companies, driving nearly 30 million jobs.

In addition, in terms of fee reduction and profit sharing, since this year (2021), the People’s Bank of China has continued to release the reform dividend of the LPR quoted interest rate in the loan market, optimize the supervision of deposit interest rates, reduce the cost of bank liabilities, and launch bank account services, renminbi settlement, e-banking, and banking 12 fee reduction measures in five areas, including card swiping and payment account services, and in conjunction with the China Banking and Insurance Regulatory Commission to reduce the handling fees for cross-bank cash withdrawals from ATMs. After all the fee reduction measures are implemented, it is expected that the annual handling fee will be reduced by approximately 24 billion yuan.

Among them, more than 16 billion yuan has benefited small and micro enterprises and individual industrial and commercial households.

  [Explanation] Speaking of the monetary policy orientation in the second half of the year, Sun Guofeng said that in the second half of the year, the monetary policy will adhere to the principle of stability, with me as the mainstay to create a suitable monetary and financial environment for high-quality economic development.

  [Concurrent] Sun Guofeng, Director of the Monetary Policy Department of the People's Bank of China

  In the next step, the People’s Bank of China will adhere to the principle of stabilization, focusing on me, mainly in accordance with the domestic economic situation and price trends, grasping the intensity and pace of policies, taking into account internal and external balance, better supporting the real economy, and creating suitable conditions for high-quality economic development. Monetary and financial environment.

In terms of total volume, keep the money supply and the scale of social financing basically in line with nominal economic growth; structurally, support the green development of small and medium-sized enterprises and technological innovation; in terms of price, consolidate the results of the decline in the real interest rate of loans, and promote the stability of the comprehensive social financing cost. drop.

  Reporting from Beijing by reporter Lang Jiahui

Editor in charge: [Ji Xiang]

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