Home Business Central Bank: Guide the financing cost of the real economy to further decline and increase financial support for stabilizing foreign trade work_Enterprise_Loans_Zhou Yu

Central Bank: Guide the financing cost of the real economy to further decline and increase financial support for stabilizing foreign trade work_Enterprise_Loans_Zhou Yu

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Central Bank: Guide the financing cost of the real economy to further decline and increase financial support for stabilizing foreign trade work_Enterprise_Loans_Zhou Yu

Original title: Central Bank: Guide the financing cost of the real economy to further decline and increase financial support for stabilizing foreign trade work

Central Bank: Guide the financing cost of the real economy to further decline and increase financial support for stabilizing foreign trade work

Cover reporter Teng Han

On June 8, Zhou Yu, head of the International Department of the People’s Bank of China, said at the regular briefing on the State Council’s policies to promote foreign trade stability and quality improvement held by the State Council Information Office, that he would guide the further decline in financing costs of the real economy and increase foreign trade stability. Financial support for work.

Zhou Yu, head of the International Department of the People’s Bank of China (Photo source: Guoxin.com)

Zhou Yu introduced that the main policies and measures of the People’s Bank of China in stabilizing foreign trade are: first, continue to reduce the financing cost of the real economy. Since the end of last year, the LPR with a term of one year and a term of more than five years, that is, the quoted interest rate of the loan market, has been reduced by 15 basis points and 20 basis points respectively, leading the loan interest rate to continue to decline. From January to April this year, the corporate loan interest rate was 4.39%, which was 0.22 percentage points lower than the level of the whole year last year.

Second, provide more precise assistance to foreign trade enterprises affected by the epidemic. In April, the People’s Bank of China and the State Administration of Foreign Exchange jointly issued the “Financial 23 Articles” circular, which included many financial measures to stabilize foreign trade. For example, the facilitation policy of foreign exchange receipts and payments for trade by high-quality enterprises will be extended to the whole country, and at the same time, pilot projects will be carried out to facilitate higher-level RMB settlement and enterprises’ foreign debt facilitation. It also allows domestic foreign exchange loans with export backgrounds to be used for foreign exchange settlement, improves the management services of exchange rate hedging for enterprises, and exempts some foreign exchange derivatives transaction fees. At present, the People’s Bank of China is guiding its subordinate branches and financial institutions to issue specific implementation plans, so that these policies can truly benefit foreign trade enterprises.

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Third, launch two direct monetary policy tools, namely the Inclusive Small and Micro Enterprise Loan Extension Support Tool and the Credit Loan Support Plan, to meet the financing needs of small and micro enterprises including foreign trade enterprises. These two tools were launched in June 2020 after the outbreak of the epidemic. They are mainly provided by the People’s Bank of China to provide some re-lending capital incentives to encourage commercial banks to extend the loan repayment of principal and interest to eligible small, medium and micro enterprises, and to provide small and medium-sized enterprises with loans. Businesses issue credit loans. The two non-stop tools were extended twice, and their implementation expired at the end of last year. During the period, a total of 16 trillion yuan of loan principal and interest were deferred, of which 13.1 trillion yuan was loans to small and micro enterprises, and many of these small and micro enterprises were foreign trade enterprises.

At the same time, after the expiry of the direct tool, the People’s Bank of China also carried out successive conversions in a market-oriented way this year. The extension support tool for small and micro loans has been directly converted into a support tool for small and micro loans, and the credit loan support plan is integrated into the re-loan for agriculture, small and medium-sized enterprises for unified management. As of the end of April this year, the balance of inclusive small and micro loans has increased by 23.4% year-on-year, and the number of small and micro business entities supported by it has increased by 41.5% year-on-year.

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“Next, we will guide the further decline of the financing cost of the real economy and increase the financial support for stabilizing foreign trade.” Zhou Yu said.Return to Sohu, see more

Editor:

Disclaimer: The opinions of this article only represent the author himself, Sohu is an information publishing platform, and Sohu only provides information storage space services.

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