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Monetary Policy Focuses On "Money Too Expensive" To Reduce Costs In A Multi Pronged Way.

2014/8/7 14:29:00 13

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Monetary Policy Cost And Economic Situation

> a href= "http://? www.91se91.com/news/index_c.asp" > entity economy < /a > financing difficulty and expensive /p >
 at present, the amount of money invested far exceeds the total economic volume. There is plenty of liquidity in the market. However, for many small and medium enterprises, it is still difficult and expensive to share these funds. According to the survey data of China Association of small and medium business enterprises, small and micro enterprises account for 41.8% of the loans from banks, which accounts for 31.03% of the difficulties, and 27.79% of them are very difficult. 
 a company in Zhejiang has won hundreds of international a href= "http:// www.91se91.com/news/index_c.asp" patent < /a >. It is reported that the loan that the enterprise initially acquired is the bank's remittance by accepting the bill of exchange, so the enterprise has to go to the black market to dig out the cost discount of 11% again, from then on, let the enterprise which has never owned a private loan become a debt enterprise with high financing cost. At present, the annual profit of the enterprise is not enough to pay the high interest on loan and the wages of the employees. 
 it is understood that in addition to < a href= "http:// www.91se91.com/news/index_c.asp" > bank loan < /a > interest, the cost of enterprise financing also includes various fees charged by government administrative departments and intermediaries. At present, the actual financing cost of many private enterprises has reached 15% to 20%, which exceeds the gross profit margin of many industries. There are still a large number of small and micro enterprises which are unable to obtain loans from formal financial institutions. They can only resort to private lending with average interest rates of up to 30%. 
 not total but structure problem .
 there is no shortage of money in the market. Why is it difficult to get into the pockets of SMEs? "From the aggregate perspective, the scale of social financing is adequate. In the case of the overall stability of the total amount of financing, financing is difficult and financing is more expensive than structural problems. "The central bank official pointed out that this is not only related to the macro development stage of China's economic spanformation and upgrading, but also to the micro entity itself and the market environment. 
 the central bank reports that there are many reasons for the debt financing of the whole society. First, the corporate debt ratio is high, and the debt burden and financing needs are mutually driven. 
 two is the "financial soft constraint" which has raised the financing interest rate. Some departments are not sensitive to the price of capital, and some inefficient enterprises occupy a large amount of credit resources and occupy the financing opportunities of other entities, especially small and micro enterprises. It is precisely because of these high endurance demand that to some extent, banks and financial products, Internet Finance and other innovative businesses have the ability to pay high interest to customers, resulting in the cost of bank liabilities increased. 
 three is insufficient development of equity financing, and enterprises rely heavily on debt financing. 
 besides, we should also see that financial supply and competition in some areas are insufficient, economic adjustment period and small and micro enterprises and "three rural" areas are relatively weak in anti risk ability, which leads to the improvement of risk premium, imperfect social credit foundation system and unreasonable additional charges in the financing process, which also push up the financing cost of enterprises. 
 experts point out that the credit market is still a seller's market. Under this background, a large number of shadow banks appear, and the interest rates above the regular banks also lead to an increase in the financing cost of enterprises. 
 multi pronged reduction of the cost of money /p >
 management has been committed to solving the problem of financing difficulties and financing in the real economy. In June this year, the central bank once again implemented targeted reduction measures to some financial institutions to encourage financial institutions to better serve small and micro enterprises. In July 23rd, the State Council promulgated 10 specific measures to solve the problem of financing and expensive. Next, the central bank will continue to use a variety of monetary policy tools to regulate the liquidity of the banking system, optimize the credit structure, deepen the reform of the financial system and develop the financial market. 
 "to alleviate the difficulty of financing and raise the cost of financing, we must take a multi pronged approach." Wang Zhaoxing, vice chairman of the China Banking Regulatory Commission (CBRC), said that, first, we must maintain the appropriate supply of money and credit and liquidity; two, we should further emphasize the optimization structure, use the most effective and scarce resources to the most cost-effective, and support the healthy and sustainable development of the economy in a number of basic construction projects and enterprises; three, we must further energetically revitalize the stock of social capital; four, we need to strengthen the risk management and risk management and control of banks in order to improve the support and strength of enterprises; five, we need to develop various forms of financial instruments, financial instruments and financial institutions to increase effective supply of funds and to promote fair competition in the market.