Reducing interest rates on toll road loans, planning to launch a 200 billion yuan "Guaranteed Property Delivery" loan support plan, and supporting inclusive small and micro enterprise loans to defer principal and interest payments... "Xinhua Viewpoint" reporters from the Chinese People At the national commercial bank credit work symposium held recently by banks and the China Banking and Insurance Regulatory Commission, it was learned that a number of policies to stabilize the economy are being advanced in an orderly manner.
Multiple documents focus on the precise implementation of policies by market entities
“Recently, the financial regulatory authorities have issued multiple documents aimed at stabilizing market entities. Commercial banks must strengthen their responsibilities and make every effort to implement them. "Pan Gongsheng, deputy governor of the People's Bank of China, said on the 21st that in response to the recent and upcoming measures in the real estate field, all banks must conduct special research and consolidate responsibilities to promote the stable and healthy development of the real estate market.
Pan Gongsheng made the above remarks at the national commercial bank credit work symposium jointly held by the People's Bank of China and the China Banking and Insurance Regulatory Commission that day. Along with the requirements of the financial management department, there are also policy measures to encourage banks to support market entities and eliminate worries.
At the symposium, the participants found that 9 documents had been prepared in front of them as soon as they sat down. Among them, 5 involve policies related to protecting market entities, and 4 involve the real estate finance field. These are the policy measures that the People's Bank of China and the China Banking and Insurance Regulatory Commission have recently issued and will soon release to support economic stabilization.
In the fourth quarter, policy incentives will be given to banks that reduce or exempt toll highway loan interest; the fiscal interest discount policy for special re-loans for equipment renewal and renovation will be clarified; and banks will be supported by signing interest swap agreements to support new projects that meet the requirements. Reduce interest rates on loans; support deferred principal and interest payments on loans to eligible inclusive small and micro enterprises... The financial management department has recently launched a number of measures to support banks in increasing credit support for market entities through market-oriented means.
Xiao Yuanqi, Vice Chairman of the China Banking and Insurance Regulatory Commission, said at the meeting that due to the impact of unexpected factors such as the epidemic and external shocks, our country’s economy is facing some challenges and downward pressure, and it is necessary to maintain stable credit growth, discover and activate The financial needs of market entities. With credit as the main focus, we will provide various financial services to stabilize investment, promote consumption and protect people's livelihood.
A variety of tools combine to create a "combination punch" of real estate finance
The real estate industry is related to many upstream and downstream industries and is of great significance to the healthy development of the economy. Recently, the financial management department has launched a number of measures, integrating credit, guarantees, bonds and other means, involving "guaranteed delivery of buildings", pre-sale regulatory funds, real estate company mergers and acquisitions and other aspects, creating a "combination punch".
Pan Gongsheng said that under the guidance of regulatory authorities, banking institutions must prevent procyclical amplification of risks and avoid excessive risk aversion. It is necessary to fully implement the long-term mechanism for real estate, implement differentiated housing credit policies based on city policies, and support rigid and improved housing needs.
In order to maintain stable and orderly real estate financing, the People's Bank of China and the China Banking and Insurance Regulatory Commission recently jointly issued the "Notice on Doing a Good Job in Current Financial Support for the Stable and Healthy Development of the Real Estate Market" and introduced a number of measures, including stabilizing real estate companies. The issuance of development loans and construction enterprise loans supports the reasonable needs of individual housing loans, and supports the reasonable extension of existing financing such as development loans and trust loans on the premise of ensuring the safety of creditor's rights.
At the same time, the People's Bank of China also encourages the use of bond financing support tools for private enterprises to support private housing companies in bond issuance and financing. Recently, private enterprise bond financing support tools announced an expansion to support bond issuance financing by private enterprises, including real estate companies, and are expected to support approximately 250 billion yuan in private enterprise bond financing. The People's Bank of China will provide re-lending funding support for this facility.
In response to the problem of late delivery of housing due to the explicit risk exposure of some real estate companies in the early stage, the People's Bank of China cooperated with relevant departments to issue a special loan for "Guaranteed Delivery of Buildings" to support the construction and delivery of housing that has been sold and overdue and has not been delivered. Structural policy tools have been established to encourage commercial banks to support "guaranteed delivery of buildings".
The reporter learned that this tool is a loan support plan for commercial banks to "guarante the delivery of properties". It plans to launch an interest-free re-loan of approximately 200 billion yuan to support commercial banks in promoting the resolution of outstanding properties. Personal Home Loan Risks.
Relevant people from the People's Bank of China said that relevant departments will further improve the legal protection and regulatory policy support for new supporting financing for the special loans of "Guaranteed Land Delivery", promote the accelerated implementation of the "Guaranteed Land Delivery" work, and maintain Legal rights and interests of housing consumers.
Banks must proactively take the lead
How to play the role of financial support in stabilizing the economy not only requires financial management departments to study and formulate new policies, but also requires banks and other financial institutions to act in a timely manner to ensure that policies Early sunset is effective.
On June 29, the State Council executive meeting determined measures to support the construction of major projects with policy development financial instruments. Within two months, the China Development Bank and the Agricultural Development Bank of China had completed the first batch of 300 billion yuan. Fund investment. As of the end of October, a total of 740 billion yuan had been invested in the two batches of financial instruments, and the cumulative credit lines of projects supported by financial instruments by various banks had exceeded 3.5 trillion yuan.
With the acceleration of various banks, a number of major projects in the fields of transportation, energy, water conservancy, municipal administration, industrial upgrading infrastructure and other fields have replenished capital.
Judging from the implementation results, in the first 10 months of this year, infrastructure investment increased by 8.7% year-on-year, and the total planned investment in newly started projects increased by 23.1% year-on-year, with the growth rate accelerating for two consecutive months.
In this context, the financial management department clearly requested at the symposium that national commercial banks should play the role of "lead goose" and take the initiative to make efforts. It is necessary to make good use of policy development financial tools, expand medium and long-term loans, promote the acceleration of the formation of more physical workload, and better play the key role of effective investment. We will give full play to the synergy of special re-loans for equipment renewal and fiscal interest discount policies to actively support the effective needs of the manufacturing and service industries. It is necessary to further increase support for market entities and proactively reduce fees and benefits to the real economy.
“The regulatory signal is very clear and we must act quickly.” A person from the corporate department of a major state-owned bank told reporters after the symposium that the bank will convey the policy information and regulatory requirements at the symposium as soon as possible and start comparing them. The document adjusts credit policies and procedures and implements financial support and policy measures to stabilize the economy.
(Reporter Wu Yu)