The central bank said that the data showed that in the first quarter, liquidity was reasonable and abundant, and the total financial volume grew steadily; In the first quarter, RMB loans increased by 8.34 trillion yuan, an increase of 663.6 billion yuan. The comprehensive financing cost of enterprises has decreased steadily, reducing the operating cost of entity enterprises; In March, the new corporate loan interest rate was 4.37%, 8 basis points lower than the previous year (65438+February).
At present, the frequency of domestic epidemics is increasing, and the external environment is more complex, severe and uncertain. However, China's economic resilience is strong, and its long-term positive fundamentals will not change. In the next step, the People's Bank of China will use a variety of monetary policy tools in a timely and flexible manner to better play the dual functions of aggregate and structure and increase its support for the real economy.
Explain in detail the structural characteristics of industrial loans in the first quarter.
In the first quarter, the structural data of new RMB loans were disclosed more. On April 14, Ruan, director of the Investigation and Statistics Department of the Central Bank, said that in the first quarter of this year, RMB loans increased by 8.34 trillion yuan, an increase of 663.6 billion yuan year-on-year, which is a statistical high.
Among them, at the end of March, the balance of medium and long-term loans in local and foreign currencies in all industries was 7 1.69 trillion yuan, up by1.9% year-on-year, which was 0.9 percentage points higher than the growth rate of all local and foreign currency loans in the same period. In the first quarter, the medium and long-term loans of all industries increased by 3.59 trillion yuan, a year-on-year decrease of 4210.50 billion yuan.
Ruan said that from the perspective of the structure of industrial loans, there are mainly the following characteristics:
First, the medium and long-term loans of manufacturing industry continued to grow at a high speed. At the end of March, the balance of medium and long-term loans in manufacturing industry increased by 29.5%. Among them, the balance of medium and long-term loans in high-tech manufacturing industry increased by 365,438+0.9%.
Second, the growth rate of medium and long-term industrial loans is relatively high. At the end of March, medium and long-term industrial loans increased by 20.7%, which was significantly faster than all industries.
Third, the growth of medium and long-term loans in the infrastructure industry declined. At the end of March, medium and long-term loans in infrastructure industry increased by 65,438+03.2%, 0.5 percentage point lower than that at the end of last month.
Fourth, medium and long-term loans in export-related industries grew rapidly. At the end of March, the growth rate of medium and long-term loans in export-related industries was 365,438+0.8%, up 0.6 percentage points from the end of last month.
Ruan said that it is expected that credit supply will continue to grow steadily in the future to support economic recovery. The People's Bank of China will continue to dredge the transmission mechanism of monetary policy, guide financial institutions to increase their services to the real economy through various monetary policy tools, and enhance the stability of total credit growth.
In addition, regarding whether the Yangtze River Delta region concerned by the market is affected by the recent epidemic, the credit supply is shrinking. April 14 Ruan, director of the investigation and statistics department of the central bank, said that in the first quarter of this year, the growth rate of loans in the Yangtze River Delta region was higher than that in the whole country. In March, RMB loans in Shanghai, Jiangsu, Zhejiang and Anhui increased by 654.38+0247 billion yuan, 324.5 billion yuan, 395.7 billion yuan and 654.38+031500 million yuan, respectively, by 22.2 billion yuan and 5654.38+0265438 yuan.
Ruan said that at the end of March, the growth rate of RMB loans was 1 1.4%, an increase of 8.34 trillion yuan over the beginning of the year and an increase of 663.6 billion yuan year-on-year. Among them, the growth rate of loans in the Yangtze River Delta region is higher than that in the whole country. According to comparable statistics, at the end of March, the balance of RMB loans in Shanghai, Jiangsu, Zhejiang and Anhui increased by 1 1.5%, 14.9%, 15.8% and 13.7% respectively. Shanghai's loan growth rate is 0. 1 percentage point higher than that of the whole country, while Jiangsu, Zhejiang and Anhui are 3.5, 4.4 and 2.3 percentage points higher than that of the whole country respectively.
The newly established two special refinancing loans totaled 240 billion yuan.
According to the requirements of the recent executive meeting in the State Council, the People's Bank of China will create two special re-loans for scientific and technological innovation and universal pension. On April 14, Sun Guofeng, Director of the Monetary Policy Department of the Central Bank, launched two new special refinancing loans.
Regarding the refinancing of scientific and technological innovation, Sun Guofeng said that the People's Bank of China will guide financial institutions to further increase their support for scientific and technological innovation enterprises through special refinancing of scientific and technological innovation. The range of enterprises supported by this tool includes "high-tech enterprises", "specialized innovative small and medium-sized enterprises", national technological innovation demonstration enterprises, manufacturing single champion enterprises and other scientific and technological enterprises. The scope of support is determined according to the existing standards of the Ministry of Science and Technology and the Ministry of Industry and Information Technology, and financial institutions independently choose enterprises to carry out financing services within the scope. The banks to which this tool applies include 2 1 national financial institutions such as China Development Bank, policy banks, state-owned commercial banks, postal savings banks and joint-stock commercial banks. The total amount is 200 billion and the interest rate is 1.75%.
In the mode of operation, the direct mechanism of "lending first and then lending" is adopted for the special re-lending of scientific and technological innovation. After the financial institutions issue loans to enterprises, the People's Bank of China will provide 60% of the principal of the loans to eligible technology enterprises with a loan period of 6 months or more.
With regard to the special refinancing of inclusive old-age care, the central bank will use this tool to guide financial institutions to provide preferential loans to inclusive old-age care institutions, reduce the financing costs of old-age care institutions, and increase the supply of inclusive old-age care services for the general public. At the initial stage of the tool's launch, five provinces, including Zhejiang, Jiangsu, Henan, Hebei and Jiangxi, were selected for pilot projects, with a pilot quota of 40 billion yuan and an interest rate of 1.75%. The pilot financial institutions are seven large national banks, including China Development Bank, Export-Import Bank, Industrial and Commercial Bank, Agricultural Bank, China Bank, China Construction Bank and Bank of Communications.
In accordance with the principle of marketization, financial institutions provide preferential interest rate loans to eligible inclusive pension institutions, and the loan interest rate is roughly the same as that of LPR with the same term and grade. The special refinancing of Pratt & Whitney pension also adopts the direct mechanism of "lending first and then lending" and is distributed quarterly. The People's Bank of China will provide special refinancing fund support for eligible loans according to the loan principal.
Banks should flexibly adjust repayment arrangements such as housing mortgage.
Zou Lan, director of the Financial Markets Department of the Central Bank, said that due to the recent frequent outbreaks, the decline in the income of some residents, the obstruction of real estate construction marketing activities and other factors, the sales of commercial housing declined, and the amount of personal housing loans also declined slightly. However, the overall asset quality of individual housing loans in China is good, and the non-performing rate has remained at a low level of around 0.3% for a long time.
Regarding the credit risk of individual housing loans, Zou Lan, director of the Financial Markets Department of the Central Bank, said that the asset quality of individual housing loans in China is generally good, and the non-performing rate has remained at a low level of around 0.3% for a long time. That is to say, out of every 1 0,000 individual housing loans, only about 3 are temporarily in an abnormal repayment state. Historically, the quality of individual housing loans in China is closely related to employment and income, but it is less affected by the fluctuation of housing prices, which is very different from the situation in some countries.
The data shows that the balance of commercial personal housing loans in China is 38.8 trillion yuan, and the balance of provident fund loans is about 7 trillion yuan. The total amount of the two projects exceeds 46 trillion, and the corresponding loans are about 654.38 billion.
Zou Lan said that since the outbreak of the new crown pneumonia epidemic, the income of some residents has been affected for a short time, and there is a need to postpone the monthly payment and reschedule the repayment plan. From the perspective of post-loan risk management, banks also need targeted arrangements for such special situations. Therefore, in June 5438+ 10, 2020, the People's Bank of China and other five departments jointly issued a notice, clarifying that financial institutions should flexibly adjust the repayment arrangements of personal credit such as housing mortgage and credit card for the four categories of people affected by the epidemic, and reasonably postpone the repayment period, and do not make overdue records for those who fail to repay in time due to the epidemic.
"From the practice of big banks at that time, at the beginning of the epidemic, the non-performing rate of personal housing loans once rose from 0.29% to 0.37%; After the implementation of the deferred repayment policy, the overall loan quality remained stable; With the relief of the epidemic, residents' income recovered and loan repayment quickly returned to normal. By the end of 2020, the NPL ratio has returned to the original level of 0.29%. " Zou Wei said.
Since the beginning of this year, domestic epidemics have occurred frequently, and all sectors of society have paid more attention to deferred repayment. Zou Lan said that the People's Bank of China will continue to pay attention to the epidemic situation and guide banks to focus on several aspects:
First, strengthen the concept of taking customers as the center. For customers who have difficulties in normal repayment, it is necessary to distinguish the reasons for repayment ability and repayment willingness; It is necessary to distinguish between short-term repayment ability and medium-and long-term repayment ability affected by the epidemic and implement a deferred repayment policy.
Second, intensify policy propaganda, appropriately simplify business processes, focus on key customer groups, and take more vigorous and targeted measures according to local conditions.
Third, in view of the characteristics of long retail business chain and diversified customer base, we will intensify business training at all levels, improve the customer service system, implement the protection of credit information rights and interests, and smooth the channels for complaints and rights protection.
In addition, due to the epidemic situation and other factors, some sold residential projects have been postponed and the delivery of houses has been postponed. The People's Bank of China will also work with relevant departments, in accordance with the principles of marketization and rule of law, combined with the actual comprehensive projects of the bank and the wishes of borrowers, and properly negotiate and handle them according to laws and regulations to effectively safeguard the legitimate rights and interests of buyers.
Multi-city banks cut mortgage interest rates independently
Zou Lan introduced that the regional characteristics of China real estate market are very obvious. The determination of individual housing loan interest rate and down payment ratio follows the principle of "city-city-bank" three-level pricing mechanism.
Specifically, at the national level, the interest rate of the first home loan should not be lower than the corresponding term LPR, and the interest rate of the second home loan should not be lower than the corresponding term LPR plus 60 basis points, which is the lower limit policy that the whole country must abide by. The provincial branches of the People's Bank of China guide the self-discipline mechanism of interest rate pricing in the provincial market, and determine the lower limit of loan interest rates in cities within their jurisdiction on the basis of the lower limit of national policies. In practice, most cities directly adopt the national lower limit standard. According to its own operation and customer credit risk, the bank reasonably determines the specific value of each mortgage interest rate on the basis of the lower limit of interest rate policy in each city.
Therefore, Zou Lan stressed that the recent reduction in mortgage interest rates mainly occurred at the bank level. In March, due to the weakening market demand, banks in more than 0/00 cities across the country independently lowered the personal mortgage interest rate according to market changes and their own operating conditions, with an average reduction of 20 to 60 basis points. Some provincial market interest rate pricing self-discipline mechanisms also meet the regulatory requirements of local governments. According to the actual situation of each city, the lower limit of down payment ratio and interest rate are lowered within the scope of national policies. This is a differentiated market adjustment made by local governments and banks according to market conditions and their own business strategies, which adapts to the characteristics of regional differences in the real estate market.
In the next step, the People's Bank of China will continue to adhere to the positioning of "houses are used for living, not for speculation", focus on stabilizing land prices, housing prices and expectations, and cooperate with local governments to fulfill territorial responsibilities to better meet the reasonable housing needs of buyers.
Properly and orderly promote enterprises to apply for the establishment of financial control companies.
Since the implementation of the Trial Measures for the Supervision and Management of Financial Holding Companies, China CITIC Financial Holding Co., Ltd. and Beijing Financial Holding Group Co., Ltd. have recently been approved to set up financial holding companies, and there are still three accepting enterprises. Li Bin, director of the macro-prudential bureau of the central bank, said that the important purpose of supervision of financial holding companies is to comprehensively and continuously grasp the overall operating conditions, guard against financial risks, promote steady and sustainable development, and enhance the ability to serve the real economy. The People's Bank of China is carrying out examination and approval according to procedures, and steadily and orderly promoting other enterprises with the conditions to apply for the establishment of financial holding companies.
Li Bin emphasized that the People's Bank of China has always adhered to the original intention of supervision and focused on the following factors in the process of access management of financial holding companies:
First, non-financial enterprises should substantially control more than two types of financial institutions, and the types and asset sizes of financial institutions they control meet the prescribed conditions.
Second, the shareholder qualification of the financial holding company to be established should be compliant, the core business of the major shareholders is outstanding, the capital strength is strong, the operation is standardized, and the investment funds are true and legal.
Third, the equity structure of the financial holding company to be established should be simple, clear and penetrable, which can penetrate and identify the actual controller and the ultimate beneficiary.
Fourth, the organizational structure is sound and the risk management system is effective, so as to ensure that the financial holding company has sound corporate governance, sound risk isolation mechanism and sufficient capital level after its establishment.
Li Bin said that the People's Bank of China will continue to urge enterprises with the conditions to apply for the establishment of financial holding companies as an opportunity to find out their financial background, promote the effective separation of finance and industry, improve corporate governance and risk management, and realize centralized management of equity in the financial sector.
"This is conducive to improving the effectiveness of the overall supervision of subsequent financial holding companies, promoting financial holding companies to operate in compliance with laws and regulations, preventing risks from spreading across institutions, markets and formats, maintaining the stability of the financial system, improving the ability to serve the real economy and high-quality development, and helping the economy run in a reasonable range." Li Bin said.
Establish an early correction and deadline rectification mechanism for incremental high-risk financial institutions with hard constraints.
Sun Tianqi, director of the Financial Stability Bureau of the Central Bank, said that by the end of 200216, the number of high-risk financial institutions in China had dropped for six consecutive quarters, the peak pressure had dropped by more than half, and financial risk management had entered a normal stage. In the next step, the People's Bank of China will do a good job in macro and micro cross-cycle management and strive to stay ahead of the financial risk curve.
In the fourth quarter of 20021,the People's Bank of China completed the central bank rating of 4,398 banking financial institutions. On the whole, the rating results of most institutions are within the safe boundary (1-7), and the assets account for about 99%. There are 3 16 high-risk financial institutions (8-D) in China, the number of which is 333 less than that at the peak. The total assets of the existing 3 16 high-risk institutions only account for 1% of the total assets of the banking industry. The ratings of 24 large banks in China have always been excellent, accounting for about 70% of assets, which has played a ballast role in financial stability.
Sun Tianqi said that the market economy is cyclical, and finance will fluctuate with the economic cycle, which will inevitably lead to the emergence of individual high-risk institutions. Therefore, we can neither be blindly optimistic when the economy goes up, nor be overly pessimistic when the economy goes down.
In terms of financial risk mitigation measures, Sun Tianqi revealed that the central bank has established a hard-binding early correction and deadline rectification mechanism for incremental high-risk financial institutions, and connected the central bank's regulatory rating with the early correction mechanism in an orderly manner, so as to identify, warn, discover and dispose of risks as early as possible. All kinds of illegal financial activities that the people abhor should be identified and disposed of early, identified accurately, and dealt with resolutely, quickly and resolutely. For financial institutions with good ratings, explore the establishment of a scientific monitoring and early warning system, early detection and early warning of abnormal indicators, and avoid potential risks from turning into substantial risks.
"202 1, the Ministry of financial stability * * * found that 274 banks had potential risk problems, and some indicators were abnormal. Take timely measures to promote 189 banks to resolve potential risks in an orderly manner. Among them, about 50% of the institutions can complete the revision within one quarter. " Sun Tianqi said.
Regarding the risk resolution of high-risk institutions in stock, Sun Tianqi said that it is necessary to ensure the existing policies and work arrangements, strictly compact the main responsibilities of financial institutions and their shareholders, compact the regulatory responsibilities of regulatory authorities, compact the local government's territorial risk disposal responsibilities and maintain stability as the first responsibility, and promote the implementation of the establishment of a financial and financial risk disposal mechanism responsible for the main leading comrades of local party and government.
Sun Tianqi said that in the next step, the People's Bank of China will continuously improve the effectiveness of financial supervision and improve the corporate governance system of financial institutions with effective checks and balances; Promote the establishment of a multi-channel and market-oriented capital replenishment mechanism for small and medium-sized financial institutions; Guide small and medium-sized financial institutions to find the right position, serve the local, small and micro, agriculture, rural areas and farmers, and serve urban and rural residents; Local governments should strengthen the construction of credit environment and create a good financial ecological environment.
In addition, for the financial stability guarantee fund, Sun Tianqi said that the financial stability guarantee fund is positioned as a reserve fund controlled by the central government to deal with major financial risks, and operates and cooperates with deposit insurance funds and related industry guarantee funds. In the conventional financial risk disposal, it is mainly invested by deposit insurance funds and related industry guarantee funds according to law, and does not involve the use of financial stability guarantee funds; In the disposal of major financial risks, financial institutions, shareholders and actual controllers, local governments, deposit insurance funds and related industry guarantee funds still have gaps after fully investing corresponding resources according to law. After approval, they will use the financial stability guarantee fund to handle major financial risks according to procedures.
Enhance the flexibility of RMB exchange rate
As the US dollar index continues to strengthen and break through 100, whether the RMB exchange rate can remain stable has attracted much attention from the market. Sun Guofeng, director of the monetary policy department of the central bank, said that since the beginning of this year, the RMB exchange rate has risen and fallen, floating in both directions. At present, the exchange rate of RMB against the US dollar is roughly the same as that at the end of last year, and the market has played a decisive role in the formation of the exchange rate. On the whole, the flexibility of RMB exchange rate has increased and remained basically stable at a reasonable and balanced level.
Sun Guofeng said that the People's Bank of China and the foreign exchange bureau have done a lot of work to help foreign trade enterprises cope with exchange rate fluctuations and achieved remarkable results. In 20021year, the scale of foreign exchange risk management by enterprises using foreign exchange hedging products such as forwards and options increased by 59% year-on-year, which was 36 percentage points higher than the growth rate of bank settlement and sale of foreign exchange in the same period, and the hedging ratio of enterprises increased by 4.6 percentage points year-on-year to 2 1.7%.
Looking forward to the future, Sun Guofeng said that in the next step, the People's Bank of China will stick to taking me as the main factor, grasp the strength and rhythm of implementing a prudent monetary policy mainly according to the domestic economic situation, enhance the flexibility of the RMB exchange rate, give play to the functions of exchange rate adjustment macro-economy and balance of payments automatic stabilizer, maintain the basic stability of the RMB exchange rate at a reasonable and balanced level, and grasp the internal and external balance. At the same time, we will pay close attention to the international macroeconomic and financial situation and respond to the impact of changes in the external environment.