Xinhua Times Review·Economic Situation in the First Quarter |
Xinhua News Agency, Beijing, April 12th, title: credit extension to the front to inject vitality into economic development
Xinhua News Agency reporter Wu Yu
In the first quarter, my country’s RMB loans increased by 10.6 trillion yuan, and RMB loans issued to the real economy accounted for 73.6% of the social financing scale in the same period… The latest financial statistics for the first quarter have many bright spots, showing the momentum of both credit supply and demand, releasing economic A positive signal to speed up recovery. Credit extensions have been pushed forward to inject vitality into economic development and further promote the continuous overall improvement of economic operation.
In the first quarter, my country’s broad money (M2) continued to maintain a rapid growth rate, and the scale of social financing and RMB loans increased reasonably. Behind this, on the one hand, the effect of the previous policy of stabilizing growth has emerged, and the demand for effective financing is picking up at a faster pace; The increasing financial support is gradually consolidating the foundation of my country’s economic recovery and stabilizing the positive momentum.
As corporate financing needs continue to pick up and banks are more proactive in extending credit, it is necessary to maintain that the growth rate of money supply and social financing scale basically matches the nominal economic growth rate, so as to help realize the comprehensive effects of promoting consumption, expanding investment, and creating employment.
While maintaining a reasonable growth in the total amount of credit, we must optimize the credit structure. Driven by the rapid growth of infrastructure investment and manufacturing investment, corporate medium- and long-term loans increased significantly year-on-year, becoming the main driver of credit growth in the first quarter. To improve the quality and adaptability of financial support to new growth points of the real economy, it is necessary to guide more credit resources to key areas and weak links, and increase support for small and micro enterprises, technological innovation, and green development.
The current economic recovery is in a critical period. To further improve the quality and efficiency of financial services for the real economy, we must give priority to supporting recovery and expanding consumption, and provide key impetus for the subsequent accelerated economic recovery. The resumption of work and production of Chinese enterprises has accelerated, the consumption environment has gradually improved, and the financing needs of enterprises and residents have shown a strong growth momentum. The continuous efforts of the financial growth stabilization policy will further stabilize market expectations and boost development confidence.
my country’s economy is resilient, has great potential, and is full of vitality. To consolidate and expand its momentum, it is necessary to maintain the continuity and stability of financial policies, improve the accuracy and effectiveness of policies, and continue to maintain a sound monetary policy environment. At the same time, we should reasonably grasp the intensity and pace of credit extension, improve the efficiency of capital use, and create a good financial environment for the continuous overall improvement of economic operation.