Cancel the lower limit of 30% discount on loan interest rate. As a key step in the process of interest rate marketization, the control of loan interest rate of financial institutions was liberalized and the lower limit of 30% was cancelled. What will be the interpretation of A shares that just fell below 2000 points? Fu Yongxian, senior investment consultant of Datong Securities (blog, Weibo), said: The news this weekend is good for the real economy for a long time. The liberalization of loan interest rate is a key step in the marketization of interest rate, and its purpose should also be to make finance better serve the real economy and implement the policy of "revitalizing the stock and making good use of the increment" mentioned in the new monetary policy. Generally speaking, full competition in the banking industry will make banks pay more attention to SME loan business, and the loan interest rate level is expected to drop, which will partially solve the problems of financing difficulties and high financing costs for SMEs. For large enterprises with strong bargaining power, more low-cost loans can be obtained. This also puts forward higher requirements for the ability of banks to review and evaluate loan projects in the future.

When talking about financial reform concept stocks such as commercial banks, small loan companies and guarantee companies under the background of Wenzhou's financial reform last year, Fu Yongzheng believes that in the long run, with the liberalization of the loan interest rate ceiling, the loan business of traditional financial institutions will become strong competitors of these companies with shadow banking functions, and the concept of financial reform will be cooled to some extent.

Finally, Fu Yongzhen also reminded investors that there are four measures to promote the reform of interest rate marketization. Article 4 mentions that in order to continue to strictly implement the differentiated housing credit policy and promote the healthy development of the real estate market, the floating range of individual housing loan interest rates will not be adjusted for the time being. This time, the implementation of differentiated mortgage for individual loans reflects to some extent that the government still maintains strict control measures for real estate regulation and control. At present, the first home loan in many places has returned to the benchmark interest rate, and even some places are higher than the benchmark interest rate, which also reflects the strict status quo of real estate credit. When it comes to the impact on real estate stocks, Fu Yongzhen thinks that the short-term impact is limited, but in the long run, based on the background of the downward trend of future loan interest rates, with the liquidation of shadow banks, the financing channels of future real estate enterprises will rely more on bank credit, and the financing costs of future real estate enterprises will be reduced.