Tianjin Branch of the People’s Bank of China: The city’s financial operations are recovering, volume is expanding, and quality is improving
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On October 25, the Tianjin Branch of the People’s Bank of China held a press conference
“Since the beginning of the year, the Tianjin Branch of the People’s Bank of China has taken promising actions to promote the effective implementation of policies and strongly supported the high-quality economic development of Tianjin. The city’s financial operations are picking up, expanding in volume, and improving in quality.” Party Committee of the People’s Bank of China Tianjin Branch Member and Vice President Xia Hongtao introduced at the press conference the overall financial operation of Tianjin in the third quarter and the relevant situations supporting the high-quality economic development of Tianjin this year. Wang Guipeng, deputy director of the Survey and Statistics Division of the Tianjin Branch of the People’s Bank of China, Jia Ke, director of the Monetary and Credit Management Division of the Tianjin Branch of the People’s Bank of China, Liu Liqun, deputy president of the Tianjin Branch of the China Construction Bank, Gu Xiaowei, deputy president of the Postal Savings Bank Tianjin Branch, and others attended the press conference. and answered questions from reporters.
effective fallReal money credit policy continues to focus on total volume and structural regulation
The Tianjin Branch of the People’s Bank of China implemented the precise and powerful requirements for a prudent monetary policy put forward by the Central Economic Work Conference and the work deployment of the People’s Bank of China. At the beginning of the year, it promptly issued the “Implementation Opinions on Financial Support for the Overall Improvement of Tianjin’s Economic Operation” to strengthen policy guidance, Starting from the aspects of institutional guidance, business guidance, and post-supervision, efforts will be made to improve the response and execution capabilities of financial institutions to regulatory policies. In order to give full play to the dual functions of monetary policy in terms of volume and structure, we organized and held monetary policy training sessions in a timely manner, improved re-lending and re-discount business management operating procedures, regularly organized on-site verification of the use of policy tools, and worked together to enhance the effectiveness of precise drip irrigation.
In the first three quarters, the Tianjin Branch of the People’s Bank of China has provided a total of more than 150 billion yuan in monetary policy tool financial support to the city’s financial institutions, leveraging more than 280 billion yuan in loans in related fields, benefiting 260,000 market entities. Among them, relending and rediscounting to support agriculture and small businesses accumulated 77.5 billion yuan, a year-on-year increase of 25.1%, benefiting 237,000 market entities. The inclusive small and micro loan support tool is 340 million yuan, leveraging the local legal person bank’s new inclusive small and micro loan of 17.2 billion yuan; the carbon emission reduction support tool is 3.1 billion yuan, and the special re-loan for clean and efficient utilization of coal is 1 billion yuan, leveraging the issuance of Carbon emission reduction loans amounted to RMB 5.2 billion, driving annual carbon emission reductions of 1.59 million tons.
We actively organized and implemented the policy of reducing deposit reserve requirements, lowered the RMB deposit reserve ratio twice by a total of 0.5 percentage points, lowered the foreign exchange deposit reserve ratio by 2 percentage points, and released approximately 24 billion yuan of long-term liquidity for banks in Tianjin, focusing on guiding Greater support will be given to small and micro enterprises, agriculture, rural areas, farmers, foreign trade and other fields.
Actively support and guide financial institutions to issue bonds and enhance their ability to support the real economy. In the first three quarters, Tianjin financial institutions issued a total of 36 billion yuan in financial bonds, ranking 7th in the country.
We conscientiously organized and implemented the 16 policies and measures for real estate finance, worked with relevant local government departments to make good use of the policy toolbox to implement city-specific policies, and adjusted regional differentiated housing credit policies to better meet residents’ rigid and improved housing needs and promote the stable and healthy development of the real estate market. . The policy of lowering the interest rate of existing first-home loans has been implemented to effectively reduce the interest burden of residents. After the implementation of the policy, the city’s financial institutions have reduced the interest rates of 490,000 existing first-home loans with a principal amount of 320 billion yuan in batches, with an average decrease of about 40 basis points. , which can transfer nearly 300 million yuan in profits to residents that year.
Effectively promote key service actions and continue to work hard to promote economic transformation and upgrading
In order to promote the implementation of monetary and credit policies and closely integrate with Tianjin’s reality, the Tianjin Branch of the People’s Bank of China organized and carried out a series of special actions to improve financial services. Financial services have made positive progress in helping enterprises benefit the people and serving high-quality development.
Further improve the working mechanism for financial support for the coordinated development of Beijing-Tianjin-Hebei, jointly implement the “Beijing-Tianjin-Hebei Industrial Chain Financial Support Plan” and arrange 100 billion yuan in re-loans and re-discount funds; actively explore regional collaboration in green finance and promote carbon asset pledge financing business in the three regions. The city’s banks have promoted it on the ground and continuously consolidated and expanded the “Beijing-Tianjin-Hebei Credit Information Chain”. The financing balance of banks in the city to support the coordinated development of Beijing-Tianjin-Hebei has exceeded 600 billion yuan.
Improve the long-term mechanism for financing services for major projects. Implement “weekly statistics, ten-day analysis, monthly summary, and quarterly reporting” to improve the effectiveness of government-bank-enterprise docking for key project financing. As of the end of September, projects on the city’s list had received a total of 320 billion yuan in bank credit, and the balance of infrastructure loans exceeded 1 trillion yuan. Medium and long-term corporate loans increased by 12.4% year-on-year, and the growth rate increased by 6.6 percentage points year-on-year.
We will vigorously carry out special actions to improve the quality and efficiency of manufacturing credit.Focusing on the city’s “1+3+4” modern industrial system layout,A special 10 billion yuan special loan to support small businesses will be prioritized to support the development of the manufacturing industry.Promote the construction of more than 20 industrial characteristic institutions, in conjunction with the Municipal Financial BureauLaunched “Financial Services Key Industry Chain Version 3.0”build“Jin Zhi Rong”service brand. as of 9At the end of the month, the city’s manufacturing loans increased by 18.7% year-on-year, hitting a new high in the past five years. Among them, medium and long-term loans to the manufacturing industry increased by 35% year-on-year.
Actively implement the financing action plan for technology-based enterprises. Improve the “Tianjin Science and Technology Innovation Enterprise White List” and support financial institutions in providing “five specialized” services such as professional team responsibility, dedicated quota support, proprietary product innovation, specialized process services and special performance appraisal. As of the end of September, loans to high-tech enterprises and technology-based small and medium-sized enterprises in the city had increased by 12.5% and 41.8% respectively.
Carefully organize the “Three, Four, Five, Six” special actions of financial support for the high-quality development of the private economy. By anchoring the “three improvements” goals and tasks, building a “four-member mechanism” to strengthen policy implementation, publicizing the “five lists” to smooth transmission channels, and creating “six hundred” to drive work results. As of the end of September, loans to privately held enterprises in the city increased by 11.1% year-on-year, and new loan increases were 4.3 times that of the same period last year; inclusive small and micro loans increased by 14.2% year-on-year, of which credit loans increased by 37.4% year-on-year.
We will vigorously support rural revitalization and post-flood reconstruction. Formulate a work plan for financial support and services for rural revitalization, and carry out special actions such as bringing inclusive finance to the countryside and expanding services for agricultural business entities. Cooperate with relevant departments to introduce special measures to guide financial institutions to provide credit support for the recovery and reconstruction of key areas and key groups affected by floods this summer. As of the end of September, the city’s agricultural-related loans had increased by 11.6% year-on-year. Financial institutions had signed flood prevention and disaster relief loan contracts worth 2.4 billion yuan, of which 1.35 billion yuan had been disbursed.
Effectively consolidate the positive financial situation and continue to work hard to maintain stable economic growth
Since the beginning of this year, the city’s financial operations have continued to show positive signs of rebounding growth, expanding increments, and improving quality.Good situation.
Both deposits and loans achieved rapid growth. In the third quarter, the city’s comprehensive growth rate of deposits and loans averaged 9.5% per month, an increase of 1.1 percentage points from the first half of the year. As of the end of September, the city’s weighted average growth rate of deposits and loans reached 9.9%, a new high since 2017. Among them, the loan balance and deposit balance were 4.5 trillion yuan and 4.4 trillion yuan respectively, an increase of 267.9 billion yuan and 310.4 billion yuan respectively from the beginning of the year. The volumes are all new highs for the same period since 2010. In particular, credit growth has continued to rebound since August last year, maintaining balanced quarterly and monthly growth, and playing a strong supporting role in promoting stable economic growth. In the first three quarters, the added value of the financial industry increased by 6.0% year-on-year, accounting for 13.6% of the city’s GDP.
The scale of social financing has steadily expanded. As of the end of September, the city’s social financing stock was 7.0 trillion yuan, a year-on-year increase of 7.3%, and the growth rate was 2.3 percentage points higher than the end of the previous year. From January to September, the city’s social financing scale increased by 409.4 billion yuan, an increase of 141.1 billion yuan year-on-year. Among them, non-financial enterprises added 4.3 billion yuan in stock financing and 65.7 billion yuan in new bond financing, an increase of 32 billion yuan year-on-year. New bond financing accounted for 16.1% of the increase in social financing, an increase of 3.5 percentage points year-on-year. From January to September, our city’s enterprises issued 483 bonds in the open market, with an issuance amount of 429.6 billion yuan, of which the bond issuance scale in the inter-bank market was 350.6 billion yuan, a year-on-year increase of 23.9%, ranking 7th in the country in terms of issuance volume.
While the total amount of financing has expanded, corporate financing and residents’ credit costs have declined steadily. From January to September, the average interest rate of new corporate loans in the city was 4.11%, 27 basis points lower than the same period last year. Among them, the average interest rate of newly issued corporate loans in September was 3.95%, 20 basis points lower than the same period last year. The weighted average interest rate of newly issued inclusive small and micro loans was 5.19%, 23 basis points lower than the same period last year. In the third quarter of this year, the weighted average interest rate of bonds issued by non-financial enterprises in our city in the inter-bank market was 4.40%, a decrease of 178 basis points from the first half of the year.
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