Accelerated Growth Of Investment Approval

In May 20th, the national development and Reform Commission approved three rail pit construction plans in Nanjing, Nanchang and Hohhot, involving a total investment of 215 billion 191 million yuan.

On the previous 18 days, the NDRC focused on 6 major infrastructure projects, including 4 railway projects and 2 urban rail pit projects. The total investment is expected to reach 243 billion 577 million yuan.

So far, in just 3 days, more than 450 billion yuan of railway traffic investment has been approved.

For the dense rail traffic projects approved by experts, experts said that China's economic downward pressure is still relatively large, foreign trade is obviously affected by the international market, and consumption growth can hardly be improved in the short term, and can be stimulated in the short term.

Only the investment, and the railway track project investment is relatively large, and can lead to many other industries such as steel, cement and so on. Therefore, the national development and Reform Commission will only approve the railway track project.

Luo Guosan, deputy director of the fixed assets investment division of the NDRC, said at a recent macroeconomic and economic situation and policy conference that new major projects may be launched in the near future.

According to the actual situation, we should continuously enrich the major engineering packages that are perfect and dynamically adjusted, and replenish some major projects that conform to the direction and conditions, and form a "four batch", that is, "implement a batch, approve a batch, reserve a batch, and plan a batch".

Minsheng Securities believes that this year, to achieve 7% of the GDP target, infrastructure investment growth will reach at least 25%, and the scale will reach 14 trillion, which means that the infrastructure investment in the latter three quarters will rise significantly compared with the first quarter.

The repeated efforts of monetary policy is a key link in promoting the implementation of projects across the country.

In May 11th, the central bank cut interest rates again, which is the third round of interest rate cuts in the current round of last November and March this year, and less than a month earlier.

The deposit rate has been reduced by 1 percentage points.

In May 13th, the Executive Council of the State Council decided to increase the scale of the 500 billion yuan credit assets securitization pilot, and the funds needed by the pilot banks should be used on the knife edge to support the construction of the shed reform, water conservancy, Midwest railway and other fields.

In May 15th,

The central bank and the Banking Regulatory Commission jointly issued a document, requiring local governments at all levels and banking financial institutions to properly handle the follow-up financing problems of financing platform companies in construction projects, to distinguish between stock and incremental implementation of classified management, and to actively support financing platform companies' continued financing after construction projects in accordance with the law, and to ensure the orderly development of projects under construction, to effectively meet the reasonable financing needs of the real economy, effectively prevent and defuse financial risks, and at the same time require banks to lend loans to financing platform companies without blindly borrowing, lending and stopping loans.

Guotai Junan report believes that the recent steady growth combination makes the traditional steady growth mode more clear, and the local government financing platform can not stop.

It is expected that RMB loans will expand rapidly, and off balance sheet financing will also revive and continue to limit the risk-free interest rate downward.