Central Bank: Control The Credit In The Two Months After This Year.

In order to implement the recent requirements of the CPC Central Committee and the State Council on economic work, Hu Xiaolian, vice governor of the people's Bank of China, held a forum on monetary and credit work in Beijing in November 23, 2010.

The conference analyzed and analyzed the recent financial operation and the situation and tasks facing it. Some banks introduced the credit operation this year, and exchanged the implementation of the national macro.

Hu Xiaolian said that the current national economy is moving towards a steady and healthy direction, and the financial operation is relatively stable.

In accordance with the overall requirements of the CPC Central Committee and the State Council's macroeconomic regulation and control, according to the new situation and new situation, the people's Bank of China has made efforts to improve the pertinence and flexibility of the policy, and has taken comprehensive measures such as open market operation, reserve ratio and interest rate to strengthen financial regulation and control.

Hu Xiaolian pointed out that we must soberly realize that the current environment is still very complicated, and some problems that should be paid attention to in the economic and financial field.

First, mobility management is facing challenges.

The major developed countries continued to implement quantitative easing policy, the global liquidity surplus situation aggravated, China's economic growth was relatively fast, foreign trade and utilization of foreign capital all resumed growth. Under the condition that RMB appreciation expectations continued to increase, international liquidity continued to flow into China, while increasing the pressure of price and asset price increase, and also increased the difficulty of liquidity management.

Two is to achieve the annual monetary and credit targets facing challenges.

In recent months, money and credit rebounded, credit demand was strong, and credit expansion momentum was strong.

The three is the rise in inflationary pressure.

In the background of the domestic economic stabilization and recovery and the abundant liquidity both inside and outside, the structural factors such as the impulse to seek value for money and increase in labor costs and the prices of resource products are boosting inflation expectations in many ways.

Four, the task of guarding against systemic financial risks is still heavy.

With the rapid growth of loans, the pressure on asset quality and liquidity management of financial institutions has increased.

Real estate regulation, regulation of local government financing platform company debt, elimination of backward production capacity and other policies in the implementation process may also have implications for the financial system.

Hu Xiaolian stressed that at the next stage, we should continue to deal with the relationship between maintaining stable and rapid economic development, adjusting the economic structure and managing inflation expectations in accordance with the unified arrangement of the Party Central Committee and the State Council. We should continue to guide the return of money and credit to normal level, enhance the ability of financial support for economic sustainable development, and promote the national economy to continue to develop in the direction of macro regulation and control.

First, we should further increase liquidity management.

At present, strengthening liquidity management is an important task of monetary policy. It is also the main manifestation of monetary conditions returning to normal.

According to the changes in the economic and financial situation and foreign exchange movements, we should continue to make comprehensive use of various monetary policy tools, rationally arrange the combination of monetary policy tools, adopt quantitative tools and price instruments, and macro Prudential Management, so as to maintain a reasonable liquidity in the banking system and create a favorable monetary environment for the basic stability of the general price level.

The two is to put loans in line with the requirements of macroeconomic regulation and control.

Generally speaking, the target of adjusting the total amount of money and credit determined by the beginning of this year is in line with the needs of steady and rapid economic development, which is conducive to the implementation of the requirements of macroeconomic regulation and control, and is conducive to handling the relationship between maintaining stable and rapid economic development, adjusting the economic structure and managing inflation expectations.

All financial institutions should take effective measures to control the pace and intensity of credit in the first two months of this year, so that the total amount of credit will meet the requirements of macroeconomic regulation and control.

Three, efforts should be made to improve and optimize the credit structure.

We should give full play to the guiding function of credit policy, serve the overall situation of economic restructuring, and support sustainable economic development.

All financial institutions should continue to support the "three rural", small and medium enterprises, strategic emerging industries, energy saving and emission reduction and other key areas and weak links in accordance with the requirements of "supporting and controlling", and implement differentiated housing credit policies and strengthen risk monitoring and management of loans from local financing platform companies.

Four, we should speed up research and build a macro Prudential policy framework.

This involves both regulation of the business cycle and regulation of sectors or areas that may trigger systemic risk.

Reflecting on the lessons of the international financial crisis and strengthening macro Prudential management policies and measures will help to guide moderate growth in monetary and credit, maintain stability in the financial system, promote steady operation of financial institutions, and resolve the accumulation of risks in economic and financial systems.

Five, we should pay attention to strengthening policy communication and interpretation work, unifying our understanding and strengthening the understanding and enforcement of the central macroeconomic regulation and control policy.

The branches of the people's Bank of China should continue to enhance the awareness of financial services and do well in policy communication and information exchange between the people's Bank of China, commercial banks and other sectors of the society.