Our reporter Yang Jie
"Our bank requires to speed up credit issuance from October to November. At present, the rate of credit issuance has accelerated significantly, mainly in the fields of manufacturing and technological innovation." A staff member of a joint-stock bank Shanghai branch said.
Recently, a reporter from "Securities Daily" learned in an interview that in the fourth quarter, the banking industry's credit issuance entered the year-end sprint stage. Under the condition that the total amount of credit is expected to maintain a stable growth, the credit issuance will continue to tilt towards the key areas and weak links of the real economy.
Mingming, chief economist of CITIC Securities, told reporters that in the fourth quarter, credit expansion in manufacturing, infrastructure and other fields is more certain, considering that policy-based development financial tools are leveraging project supporting financing and special re-lending for equipment upgrades and renovations has been implemented. .
With the gradual effect of the credit easing policy, it is expected that the credit supply will continue to increase year-on-year in the fourth quarter. Under the influence of the base effect of the dislocation of the local bond issuance rhythm, the improvement in the reading may not be obvious, but the overall trend is positive. trend will continue.
The overall improvement of the corporate financing environment will help the economy to further stabilize and rebound and enhance market confidence.
Keep an eye on the "countdown"
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The fourth-quarter work promotion meeting to stabilize the economic market clearly stated that the economy in the fourth quarter is the heaviest in the whole year, and many policies will play a greater role in the fourth quarter. Policies and measures have been fully implemented and fully effective to ensure that the economy operates within a reasonable range.
It is understood that a number of banks have recently held work meetings one after another to make arrangements for the task goals and work in the fourth quarter, and strive to win the "final battle" of the year.
An insider of a commercial bank told the "Securities Daily" reporter: "Before the National Day, we made arrangements for credit issuance in key policy support areas, mainly focusing on policy development financial instruments for supporting support, equipment renovation loans, and manufacturing. Long-term support for all three.”
"The business in the fourth quarter is indeed more than before. We are doing our best to promote the investment all the time. This time is very busy." A staff member in charge of the loan business in the Beijing branch of a joint-stock bank told reporters, "Because the early stage of lending has to be Carry out multiple processes such as credit rating evaluation, investigation and approval, and the task of credit issuance is known, and the sooner the target is completed, the better, in case there are variables in December or the loan cannot be issued due to various circumstances.”
In order to promote credit issuance, many banks have also introduced a number of preferential policies.
A staff member of the Shanghai branch of a large state-owned bank told reporters: "The bank has taken many measures to promote the development of inclusive finance, encourage small and micro enterprises to lend, and focus on supporting new energy enterprises such as clean energy, photovoltaics, and wind power. The preferential loan interest rate is about 2.9%. to 3.2%.”
"Our bank will hold various special competitions or activities to encourage the development of some businesses, such as special incentive activities for small and micro enterprise loans." The business manager of a Baoding branch of a joint-stock bank told reporters that the bank's credit issuance is mainly based on the characteristic industries of Hebei Province. Enterprises with key customer groups in steel, pharmaceuticals, automobiles, and science and technology innovation.
It is worth mentioning that in mid-October, the six major state-owned banks collectively voiced support for the real economy, focused on key areas and weak links of the national economy, increased credit issuance, and gave full play to the "head goose effect".
A number of city commercial banks stated that they will focus on the financial service needs of customers in their operating areas, and focus on advanced manufacturing, private small and micro enterprises, and import and export enterprises, and promote the stable, healthy and sustainable development of credit business.
Wang Qing, chief macro analyst of Dongfang Jincheng, told reporters that the fourth quarter is still at a critical time point for the economy to stabilize and improve. Finance will further increase its support for the real economy. The key areas include the following three: First, focus on making efforts Support infrastructure construction, increase supporting loan issuance, and ensure that infrastructure investment maintains double-digit growth in the fourth quarter.
Second, the large-scale issuance of equipment renewal and renovation loans by financial institutions to key fields such as manufacturing will hedge the downward pressure on the global economy to a certain extent, increase the adverse impact on domestic manufacturing investment, and promote manufacturing investment to maintain strong resilience. Continue to play an active role in expanding investment.
Third, financial institutions will increase support for "guaranteing the delivery of buildings" to promote the stable and healthy development of the real estate market.
Further decrease
Real economy financing cost
Since the beginning of this year, a series of measures to stabilize growth have been introduced intensively, among which the increase in credit to the real economy has been mentioned many times.
"In the fourth quarter, financial institutions should give full play to the efficiency of the LPR reform, further reduce the financing cost of the real economy, and stimulate the independent financing needs of enterprises and residents. This is an important force for implementing various financial policies and improving the quality and efficiency of serving the real economy." Dongfang Feng Lin, senior analyst at Jincheng Research and Development Department, said.
In Mingming's view, banks should innovate service models based on actual conditions, improve the quality of connection and the effectiveness of financial services, and continuously expand the coverage of credit services; focus on major projects and key industrial clusters, activate the "industrial chain" with the "capital chain", and continue to increase credit Financial support for the transformation and upgrading of the manufacturing industry; deepening financial services for the individual economy, deepening retail, catering and other sub-sectors and scenarios, and strengthening credit loan support for such “asset-light” entities; optimizing the loan issuance process and promoting the effective connection of various procedures , At the same time, establish working mechanisms such as "green channel" for business approval in special periods, optimize the business approval process, and improve the quality and efficiency of approval.
"Easy credit is one of the key engines to promote stable growth." Wang Qing said that with the acceleration of credit issuance in September, the growth rate of the balance of domestic and foreign currency loans at the end of the month increased by 0.3 percentage points from the end of the previous month to 10.7%; at the same time, the scale of new social financing And the growth rate of stock social financing is also rising.
It is expected that in the fourth quarter not only new loans will maintain a year-on-year increase, but also the growth rate of various loan balances will further increase, and social financing data will also maintain a similar trend. There is also a slight upside in speed.
This will directly increase the investment and consumption capacity of enterprises and residents, boost market confidence, and push the GDP growth rate in the fourth quarter to move closer to the normal level.
(Securities Daily)