日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Experts expect stable money policy to continue

By ZHANG YUE | China Daily | Updated: 2021-01-12 09:13
Share
Share - WeChat
A bank employee helps a customer with corporate settlement services at a Bank of China branch in Lianyungang, Jiangsu province, on Feb 24. WANG CHUN/FOR CHINA DAILY

High-quality development goal set to help small companies and technology firms

Macroeconomic observers see China maintaining a moderate and consistent monetary policy this year.

They also expect more targeted incentives to boost growth of key sectors and shore up weak links.

Among the beneficiaries of such a policy will be the private sector, small businesses and technology firms as the country pursues high-quality development, they said.

Peng Wensheng, chief economist with China International Capital Corp, said in an interview on Thursday that while the country's economy is robustly bouncing back toward pre-COVID-19 levels, a comparatively relaxed monetary environment is still needed to effectively cope with the evolving coronavirus impact and help more businesses stay afloat.

"A tweak of magnitude in monetary policy, if any, is likely to take place in a gradual, moderate manner this year," Peng said, adding that many businesses, especially in the services sector, have been hit particularly hard in the outbreak and need more time to recover.

In recent weeks, the People's Bank of China, the central bank, has pledged in its quarterly and annual meetings that it will make money supply and aggregate social financing grow at basically the same level as the country's nominal economic growth this year.

It will implement a prudent monetary policy that is flexible, precise, reasonable and moderate. The central bank also said it will pay attention to the ideal timing, extent and impact of policies, and maintain the necessary support for economic recovery.

It will also deepen the reform of its interest rate system, and make borrowing more accessible and affordable to smaller businesses in the private sector.

Peng said that notable efforts have been made in recent years by State-owned commercial banks to scale up lending to smaller businesses.

However, while visible progress has been made in inclusive finance, financing needs of smaller businesses still remain acute.

"In addition to sufficient liquidity, targeted steps are needed to tackle financing woes. Effective steps are needed to boost the confidence of commercial banks, and their readiness and capacity in lending," said Peng, an author of two award-winning books on financial circles, interest rate reforms and their impact on China's economy in the past five years.

Wu Ge, chief economist at Changjiang Securities, said growth momentum will likely see a robust pickup in the first quarter, considering the virus-induced slump in the same period last year.

Interest rates are likely to climb moderately, adding to a marginal rise in financing costs for businesses. Against such a backdrop, targeted policies are particularly needed to ensure accessible financing for smaller businesses.

Since August 2019, the PBOC has helped cut smaller firms' financing costs through reform of the loan prime rate, now the country's de facto lending rate, in an effort to break the invisible lower lending limit for loan prices in a market-oriented manner.

Peng said while the reform have successfully nudged more lending to smaller firms, more needs to be done to reduce the cost of finance to smaller firms.

"Incentive mechanisms for lending to small and micro companies for commercial banks must be improved to share with businesses in weal and woe," he said. "Real economy and financial institutions are interdependent, and shall grow and thrive with one another."

China's Ministry of Finance issued a revised performance evaluation rules for commercial banks on Jan 4, settling a new set of performance benchmarks for them.

1 2 Next   >>|
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 荷兰欧美一级毛片 | 久久久久久91香蕉国产 | 中文字幕国产精品 | 国产精品午夜小视频观看 | 亚洲午夜在线观看 | 国产成人精品免费视频大全可播放的 | 欧美成人性色区 | 成人黄色在线观看视频 | 久久久久久影院 | 亚洲福利| 毛片1毛片2毛片3毛片4 | 激情五月婷婷 | 天堂网成人 | 很黄很色的小视频在线网站 | 一区二区三区视频免费 | 色婷婷综合网 | 91精品啪在线观看国产91九色 | 91久操| 一区二区影院 | а√天堂资源中文最新版地址 | 欧美激情精品久久久久久变态 | 久久中文字幕一区二区 | 播五月开心婷婷综合 | 欧美成人在线影院 | 精品久久久久一区二区国产 | 精品国产午夜福利在线观看 | 99精品一区二区免费视频 | 99久久精品国产片久人 | 午夜欧美精品 | 成人精品综合免费视频 | 国产激情在线观看 | 成人在线激情网 | 国产精品国产三级国产aⅴ无密码 | 亚洲国产天堂久久综合226 | 久久女 | 男女激情动态视频 | 四虎在线观看一区二区 | 亚洲成人精品在线观看 | 久久久国产一级片 | 一级@片 | 亚洲一区二区三区视频 |