Preferential Interest Rates And Other Policies Are Clear And Solid.

People's daily, Beijing, February 6 (Zhang Feiran, Shen Jiaping) on the 5 day, the Executive Council of the State Council decided to launch a number of fiscal and financial policies to support the protection on the basis of previous measures against all aspects of the epidemic prevention and control.

Among them, the meeting decided to make good use of the special reloan policy, and support the banks to provide key loans for the production, transportation and sale of key medical prevention and control materials and daily necessities, including small and micro enterprises, providing preferential interest rate loans, and giving half discount to the financial sector to ensure that the loan interest rate of enterprises is less than 1.6%.

The production enterprise is a "military factory" to fight against the epidemic. Over the past few days, many epidemic prevention enterprises have been working overtime to increase production capacity and ensure the supply of first-line materials. In view of the problems faced by some enterprises, such as insufficient capacity, rising raw material and labor costs, the policy of the Executive Council of the State Council is undoubtedly a timely rain.

A number of experts said in an interview with people's network reporter that increasing credit support to enterprises in the epidemic prevention and control business, including small and micro enterprises, is an important link in winning the epidemic prevention and control and maintaining the long-term development of China's social economy. Judging from the information disclosed by the Executive Council of the State Council, the current policy is moving towards a clearer and more solid direction. It is expected that more market-based measures will be launched in the future to continuously reduce the financing cost of enterprises.

The policies and measures are clear and practical.

Dong Ximiao, a special researcher at the national finance and development laboratory, pointed out that the credit policy given by the National Convention is clear and realistic.

There are two "heavy" loans, including key enterprises, including small and micro enterprises in the production, transportation and marketing of key medical prevention and control materials and daily necessities, and the two supporting policies are special refinancing and fiscal discount. The result is to ensure that the loan interest rate of enterprises is below 1.6%. He explained.

Guo Tianyong, director of the China banking research center of Central University of Finance and Economics, pointed out that although 1.6% of the corporate lending rates mean a small profit or even a loss to many banks, "but from the perspective of the overall situation, it is still feasible to implement such preferential loans for the epidemic related enterprises through the joint efforts of the three parties, namely the central bank policy, the financial discount interest and the banks' profit margins".

Based on reality and long-term vision, finance and entities should overcome difficulties together.

Experts said that increasing financial credit support is not only to win the epidemic prevention and control, but also to the long-term development of China's economy and society.

Dong Ximiao believes that after the outbreak, the financial industry, especially the banking institutions, has taken measures to effectively support the epidemic prevention and control work in the aspects of capital remittance, credit supply and property donations, and has enhanced the confidence and determination of the whole society to win the battle against epidemic prevention and control, and has demonstrated the spirit and spirit of sharing the difficulties with the real economy.

Guo Tianyong said that from the short-term interests, actively implementing policies and increasing financial support for related enterprises of epidemic prevention is a key link in overcoming the epidemic. In the long run, early prevention and control of epidemic prevention and fight, and social and economic life soon return to normal, can pave the way for the annual development of financial institutions including banks.

Looking forward to more market-oriented means to continuously reduce the financing cost of enterprises

Since the outbreak of the epidemic, a series of stable and stable financial policies have been introduced.

On the 1 day, the central bank and other 5 departments issued 30 financial initiatives to support the epidemic; the CIRC indicated that it had implemented the work from 6 aspects, such as safeguarding the supply of credit resources; the SFC indicated that it had made a special policy arrangement in the special period; on the 3 day, the central bank reversed its repurchase of 1 trillion and 200 billion yuan, and on the basis of liquidity, it reduced two periods of reverse repo rate 10 basis points respectively.

"It is necessary to take special measures in a special period." Dong Ximiao said that the follow-up expects the policy to increase positive incentives for financial institutions, give play to the initiative of financial institutions, and adopt more market means to reduce the financing cost of enterprises.

Since the outbreak of the epidemic, financial institutions are continuing to accelerate their anti epidemic efforts with professional services. In January 24th, the State Development Bank issued an emergency loan of 2 billion yuan to Wuhan to support the prevention and control of pneumonia caused by new coronavirus infection in Wuhan. According to the statistics of the China Banking Association, as at 12 o'clock in February 4th, the banking industry issued epidemic prevention and support related enterprises production loans has more than 160 billion yuan, and a number of banks also specially handled, the local interest rate small and micro enterprises loan interest rates on the basis of the existing interest rate reduction; 5, the country's first single prevention and control of epidemic debt financing tools successfully issued; 6, the fight against epidemic theme financial bonds in the inter-bank bond market successfully issued......

Dong Ximiao believes that the next step is the MLF (medium term lending facility) interest rate is expected to decline, and guide LPR (loan market quotes) decline. He pointed out that through such a market transmission, the real interest rate of loans will be guided down, thus promoting the reduction of the financing cost of enterprises, and better and more sustainable service of the real economy.