The Efficiency of Steady Monetary Policy from the Annual Report of Banks
Precise drip irrigation of financial living water to the real economy (financial eye)
Our reporter Ge Mengchao, Zhu Jun, Ouyang Jie, Wu Qiuyu, People's Daily (Page 18, April 18, 2022)
Finance is the core of the modern economy and the bloodline of the real economy.
Looking at the flow of bank funds, you can feel the pulse of my country's economy.
Recently, large commercial banks such as Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, and China Construction Bank announced their 2021 operating results.
In the past year, what are the characteristics of large commercial banks in credit issuance?
How to continue to increase support for the real economy this year?
The reporter conducted an interview.
Loans are put in a large amount, and the effect of reducing fees and giving profits is real
In an automated production workshop in Tongliang District, Chongqing, pieces of auto parts are shipped out, sub-packaged, and packaged along the assembly line... Thanks to the convenient and efficient financing plan, Chongqing Huitong Technology Co., Ltd. has Sufficient funds were used to purchase equipment, and the production line was expanded to ensure that orders were delivered on time.
"In order to meet the needs of enterprises and suppliers with a large number of withdrawals and a small amount of money in a single transaction, the bank provided a credit line of 50 million yuan in a timely manner, and enterprises can borrow and repay as needed, which is very convenient." Bank of Communications Chongqing Bishan Sub-branch President Li Jing said.
Today's credit issuance is related to tomorrow's economic development.
In 2021, ICBC's domestic RMB loans will increase by 2.12 trillion yuan; Agricultural Bank's new loans will be 2 trillion yuan, a record high; CCB's loans and advances will increase by 1.94 trillion yuan over the previous year... Large commercial banks continue to provide loans Increase, the "head goose" effect will be better played.
In recent years, the banking industry has implemented measures to reduce fees and give in profits to the real economy, and actively help market players.
Liao Lin, President of the Industrial and Commercial Bank of China, said: "First, the interest rate cut. The average interest rate of ICBC's new corporate loans and inclusive loans fell by 15 and 18 basis points last year on the basis of the previous year's decline. The second is to reduce fees. The number of free service items of ICBC has increased from 109 to 149, and it has taken the initiative to exempt and reduce service charges for small and micro enterprises with operational difficulties. Third, the bank has extended principal and interest, and continued to apply for loan extension and interest extension for eligible enterprises to help them reduce financial burden."
Zhang Qingsong, President of the Agricultural Bank of China, said that some enterprises, especially small and medium-sized enterprises and individual industrial and commercial households are currently facing certain difficulties in their operations. , to achieve its own business sustainable development.
In terms of operating income and other operating indicators, many large commercial banks have also achieved good results.
In 2021, ICBC's operating income will exceed 860 billion yuan, with a net profit of more than 350 billion yuan; CCB's operating income will exceed 820 billion yuan, with a net profit of 303.928 billion yuan.
The operating income of Agricultural Bank and Bank of China exceeded 710 billion yuan and 600 billion yuan respectively, and the net profit of Postal Savings Bank increased by nearly 19% over the previous year.
Regarding the increase in operating income, Liu Jin, President of Bank of China, said that last year, Bank of China increased credit issuance to help market players reduce comprehensive financing costs and actively support the development of the real economy.
At the same time, the strategy of "quality and price optimization" was implemented to control the growth of debt costs and effectively curb the downward trend of net interest margin.
Since the second half of last year, the net interest margin has remained stable, which strongly supports the steady growth of operating income.
In addition, in terms of asset size and quality, as of the end of 2021, the total assets of ICBC and CCB have both exceeded 30 trillion yuan, and the non-performing loan ratios of many large commercial banks have declined compared with the previous year, and the overall asset quality has improved.
More financial resources flow to key areas and weak links
In the past year, large commercial banks have fully supported the key areas and weak links of the real economy, such as precision drip irrigation manufacturing, technological innovation, inclusive small and micro enterprises, rural revitalization, and green development.
——Inclusive small and micro loans achieved "volume increase", "coverage expansion" and "price reduction".
"The 5 million yuan loan has arrived, not only the interest rate is low, but also the usage is very flexible." In December last year, Hunan Changsha Accor Color Printing Co., Ltd., a technology-based small and micro enterprise, became the beneficiary of the first "Shanxin Loan" of the Changsha Tianxin Sub-branch of CCB.
In recent years, small and micro enterprises have become one of the focuses of banking services.
At the end of 2021, the balance of ABC's inclusive small and micro loans increased by nearly 370 billion yuan compared with the end of the previous year, and the growth rate exceeded 30% for three consecutive years; the average interest rate of new inclusive small and micro loans issued by CCB was 4.16%, a decrease of 20 basis points from the end of the previous year. ; Postal Savings Bank served more than 1.71 million inclusive small and micro customers.
Dong Ximiao, chief researcher of China Merchants Union Finance, said that since last year, the People's Bank of China has guided commercial banks to accelerate the construction of a long-term mechanism of "dare to lend, willing to lend, able to lend, and meeting loans", and to carry out in-depth projects to improve the financial service capabilities of small, medium and micro enterprises.
The “increase in volume”, “expansion” and “price reduction” of inclusive small and micro loans by large commercial banks are conducive to stabilizing enterprises and ensuring employment, and helping small and micro enterprises to develop sustainably and healthily.
——Consolidate and expand the achievements of poverty alleviation, and fully serve the rural revitalization.
Financial services have great potential for rural revitalization.
Taking the Agricultural Bank of China as an example, in 2021, the Agricultural Bank of China will introduce special action plans for food security, rural industries, and rural construction, and innovate the "three rural" financial product service model.
As of the end of 2021, the balance of ABC's county-level loans was 6.2 trillion yuan, an increase of 913 billion yuan throughout the year, a growth rate of 17.2%, and the balance accounted for 36% of the bank's total loans. year high.
In terms of financial technology, Xu Shouben, Vice President of Industrial and Commercial Bank of China, said that ICBC launched the ICBC “Xing Nong Tong” APP, an online service platform, to provide services such as people’s livelihood, village affairs, and transaction matching for rural customers in county areas; The service platform empowers rural governance and currently covers 770 counties and 100,000 village collectives across the country.
- Actively explore new green finance products, services and measures.
According to data from the People's Bank of China, as of the end of 2021, the balance of green loans in domestic and foreign currencies in my country was 15.9 trillion yuan, a year-on-year increase of 33%, ranking first in the world.
At present, my country has initially formed a multi-level green financial product and market system such as green loans, green bonds, green insurance, green funds, and carbon financial products.
Brighten the "quality" of green finance.
Ji Zhihong, Vice President of China Construction Bank, introduced that CCB actively explores new products, services and new measures of green finance, and increases the issuance of loans in line with the scope of carbon emission reduction support tools such as clean energy, energy conservation and environmental protection. Last year, green loans increased by 515.5 billion Yuan.
Liu Jiandong, Risk Director of Bank of China, said that during the "14th Five-Year Plan" period, it is planned to provide financial support of no less than 1 trillion yuan to green industries, so that the balance and proportion of green credit will increase year by year.
Monetary policy moves forward, sending positive signals of stabilizing growth and stabilizing expectations
On March 17, Agricultural Bank of China Chongqing Branch issued a loan of 3 million yuan to Zhongyi Industry Co., Ltd.
Unlike ordinary loans, this loan is obtained by the company pledged for the rights to new varieties of plants.
This is a special credit product for intellectual property rights in the seed industry innovatively launched by Agricultural Bank of China Chongqing Branch, which is the first in the country.
"Enterprises will use the loan to cultivate and innovate new varieties of crops, cultivate rapeseed varieties with high oil content, functional rice, special rice and high-yield and high-quality rice varieties, etc., to enhance their core competitiveness." Zhong Shiliang, head of Zhongyi Industry Co., Ltd. Say.
A series of data released by large commercial banks reflects the effectiveness of monetary policy and financial "nourishing" the real economy, sending a positive signal of stable growth and stable expectations.
"Bank of Communications started to implement the reserve work for this year's loan projects in the fourth quarter of last year." Guo Mang, vice president of Bank of Communications, said that since the beginning of this year, Bank of Communications' RMB loans have maintained rapid growth. As of the end of February, the loan balance increased by more than 4% compared with the beginning of the year. Strategic The balance of emerging industries and clean energy loans increased by around 14%.
According to the data disclosed by the Bank of China, as of the end of February, the balance of medium and long-term loans in the manufacturing industry of the Bank of China increased by nearly 7%, and the proportion of new loans in the Beijing-Tianjin-Hebei, Yangtze River Delta, Greater Bay Area and other regions accounted for more than 70%.
The 2022 first-quarter regular meeting of the Monetary Policy Committee of the People's Bank of China pointed out that it is necessary to maintain stability and seek progress while maintaining stability, strengthen cross-cyclical and counter-cyclical adjustment, increase the implementation of prudent monetary policy, and enhance forward-looking, precision, and autonomy. We will give full play to the dual functions of monetary policy tools in terms of total volume and structure, respond proactively, boost confidence, provide stronger support for the real economy, and stabilize the macroeconomic market.
"Currently, large commercial banks and other financial institutions should continue to take the initiative and make precise efforts to increase support for the real economy, especially industries and enterprises that have been greatly affected by the epidemic, and stabilize the capital chain of small and micro enterprises and individual industrial and commercial households. , to promote the accelerated recovery of its production and operation." Dong Ximiao said.
Relevant persons in charge of a number of large commercial banks said that they will continue to maintain a moderate growth in new loans this year, so as to create a suitable financial environment for stabilizing the macroeconomic market.
Ji Zhihong said that CCB will accurately connect with major national projects, do a good job in credit issuance in the "two new and one important" fields, and support infrastructure investment that is moderately advanced.
Maintain the stable and orderly distribution of real estate loans to better meet the reasonable housing needs of home buyers.
"According to the general idea of first-hand, coordinated and precise development, this year will promote moderate growth in investment and financing, structural optimization in terms of total volume, and structural adjustment in terms of stock." Liao Lin said that ICBC will make good use of it. Digital means can better meet the needs of small and micro enterprises, individual industrial and commercial households, new agricultural business entities and new citizens, and continuously improve service coverage, availability and satisfaction.