Financial Support For The Real Economy Is Relatively Limited.

Gao Shanwen group of Anxin securities recently released the February financial data review report, which indicated that in February, RMB loans were significantly expanded, and non loan growth was still downhill. The overall social and financial integration rose slightly. The credit support of the financial system to the real economy was improved compared with that in January, but the strength was relatively limited.

It seems that although the State Council has a strong desire for steady growth, so far the implementation of infrastructure projects has been slow.

The difference between the trend of loans and non loans may come mainly from two businesses.

Differences in severity.

In the context of a still weak economy,

There is an alternative to non loan placements.

In addition, since October last year, the issuance of platform companies' credit debt has been tightened, and some financing needs have been turned to loans.

At the beginning of the year, the re pricing of loans, a slight fall in the interest rate of bond issuance, and a reduction in interest rates in February will drive the interest rate reduction.

Financing costs further downward.

But the rise in interbank interest rates since last November has lifted the cost of corporate paper financing.

In February, M2 rebounded year by year, and the reference value of the rally was limited.

In February, more fiscal deposits fell, suggesting that the growth of public expenditure may be returning to a more normal level.

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Yang Yuanqing, chairman of the CPPCC National Committee and chairman of Lenovo Group and Mr. CEO, deeply communicated with the media in Beijing, and expounded the viewpoints on the hot topics of the two sessions, including the "one belt and one way" strategy, the integrity of the IT industry and the consumption outflow of China.

Yang Yuanqing, member of the Committee on "promoting the" one belt "strategy in the country, should not only promote the physical meaning of expressways and railways, but also build and popularize the" information highway ".

The Silk Road Economic Belt strategy covers Southeast Asian economic integration, covering the economic integration of Northeast Asia, and finally integrated into Europe, forming the trend of economic integration in Eurasia.

In twenty-first Century, the strategy of the maritime Silk Road Economic Belt formed a closed loop of sea and land from the three continents and the Silk Road Economic Belt.

As for the Asia Pacific region, the total economic volume accounts for 57% of the world's total and the total trade volume accounts for 48% of the world's total. With the increasing global economic aggregate and the total foreign trade volume, the "one belt and one way" strategy will play a historic role in the economic development of all the coastal countries along the coast, especially the pulling effect on China's economy is immeasurable.

At present, the downward pressure on China's economy is bigger and bigger.

At the same time, excess capacity and excess foreign exchange assets; high dependence on oil and gas resources and mineral resources on foreign countries; the strength of labor is not in existence, and dividends disappear.

In a word, domestic demand is difficult to digest the huge capacity formed in the past few years, and the domestic economy has not attracted much attention.

Under such circumstances, the "one belt and one way" strategy will surely become a new growth point and pulling force for China's economy, which is essential for steady growth.

As Yang Yuanqing said, "one belt and one road" is a very good national strategy. It takes this opportunity to actively encourage enterprises to "go out" and thus drive China's economic growth.

The "one belt and one way" strategy is a diversified, multi-dimensional and omnidirectional approach to China's economy, and only a "goal" of "interconnection and interconnection" can become a strong force for China's economy, and the investment in infrastructure is unprecedented.

However, now focusing on physical infrastructure, shipping, aviation and other infrastructure construction, it ignores the most strategic and forward-looking IT information infrastructure with the core of the new Internet economy.

Yang Yuanqing said very well: "I am very glad to see that when Premier Li Keqiang went abroad to visit, he went everywhere to promote our high-speed rail. But I think physical highways and high-speed railways are not enough, and we should also promote information highways."

Yang Yuanqing believes that the plan of building information highways should be put into the "one belt and one way" strategy, because the building materials of Chinese enterprises on the information highway have considerable strength and capability: for example, HUAWEI, ZTE's network products, etc.

What I want to say is that Lenovo's servers and storage devices have strong strength, especially after the acquisition of IBM's x86 server.

Of course, Lenovo computers, smart phones and other intelligent terminals have considerable strength.