The reporter learned from the China Banking and Insurance Regulatory Commission on July 30 that in the first half of the year, the China Banking and Insurance Regulatory Commission resolutely implemented the decision and deployment of the Party Central Committee and the State Council, deepened the structural reform of the financial supply side, strictly adhered to the bottom line of systemic risks, and promotedBankindustryInsuranceTo achieve high-quality development of the industry, we will focus on the balance between “steady growth” and “risk prevention”.
In the first quarter of 2021, the macro leverage ratio dropped by 3.6 percentage points from the end of the previous year, and it fell for two consecutive quarters, with a cumulative decrease of 5.3 percentage points.
First, the leverage ratio of the financial sector has declined, and asset expansion has decreased year-on-year. In recent years,BankThe growth rate of total industry assets dropped from 15% in the past to around 9%, the growth rate of inter-bank assets dropped to around 3%, and SPV investment fell by 6.3% year-on-year. In the first half of the year,BankIndustry financial institutionNew loanThe proportion of total new assets rose to 80.6%, an increase of 13.4 percentage points from 2020.
The second is to supervise and implementreal estateControl policies have led to a decline in the leverage ratio of the residential sector. In the first quarter, the total debt of the residential sector was 76.4 trillion yuan, and the leverage ratio was 72.1%, a decrease of 0.3 percentage points from the beginning of the year, ending the continuous upward trend in recent years. In June, personal housing mortgage loans increased by 276.6 billion yuan, a year-on-year decrease of 183 billion yuan. In the first half of the year, personal housing mortgage loans increased by 2.1 trillion yuan, lower than the increase in loans during the same period last year and 2019.
The third is to broaden corporate financing channels and promote a decline in corporate asset-liability ratios. The leverage ratio of the non-financial corporate sector fell for three consecutive quarters, with a cumulative decrease of 6.6 percentage points.Steadily promote market-oriented debtConversion. Since the beginning of this year, financial asset investment companies have newly launched 472 debt-to-equity swap projects, with a total value of 403.9 billion yuan. At the end of May, the asset-liability ratio of industrial enterprises above designated size was 56.3%, a year-on-year decrease of 0.6 percentage points. Since November 2020, the year-on-year decline has been continuously maintained.
The fourth is to help government departments stabilize their leverage. In the first half of the year, the banking industry helped to strictly control the risk of local debt. At the end of June, banking financial institutions held 25.2 trillion yuan in local bonds, an increase of 1.4 trillion yuan from the beginning of the year and a decrease of 1.1 trillion yuan year-on-year.
(Source: China Securities Net)
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