In 2020, China’s financial system will operate smoothly, and the balance of green credit will rank first in the world.

Conference site

　　Cctv news(Reporter Li Wenliang) On January 15th, the State Council Office held a press conference. Chen Yulu, deputy governor of the People’s Bank of China, introduced that in 2020, the People’s Bank of China will comprehensively track the epidemic prevention and control and the economic and social development situation, and flexibly grasp the strength, rhythm and focus of monetary policy regulation and control, thus creating a stable and suitable monetary and financial environment for the epidemic prevention and control, "six stabilities" and "six guarantees".

　　Chen Yulu said that on January 12th, the People’s Bank of China released the Report on Financial Statistics in 2020. The data shows that in 2020, China’s major financial indicators are running in line with expectations, and the financial system is running smoothly.

　　First, the growth of money and credit basically achieved the annual target. At the end of 2020, the broad money supply (M2) increased by 10.1% year-on-year, 1.4 percentage points higher than the end of last year; RMB loans increased by 19.6 trillion yuan, an increase of 2.8 trillion yuan over the previous year; The stock of social financing scale increased by 13.3% year-on-year, 2.6 percentage points higher than the end of last year. From the perspective of the whole year, the People’s Bank of China has provided 1.75 trillion yuan of long-term liquidity for the real economy by reducing the deposit reserve ratio three times. The People’s Bank of China has launched more than 9 trillion yuan of monetary policy support measures, ensuring the policy goal of "moderate monetary aggregate and reasonable liquidity".

　　Second, the credit structure was optimized, loans from manufacturing enterprises and small and medium-sized enterprises continued to exert their strength, and financial support for key areas of the real economy increased. In 2020, the balance of medium and long-term loans in manufacturing industry increased by 35.2%, 20.3 percentage points higher than the previous year, and the growth rate has been rising for 14 consecutive months. Pratt & Whitney small and micro loans increased by 30.3%, 7.2 percentage points higher than the previous year. At the same time, the effect of real estate control policies has been gradually released, and the growth rate of real estate loan balance has dropped for 29 consecutive months.

　　Third, we continued to deepen the structural reform of the financial supply side, and the financing cost of the real economy dropped significantly. In 2020, the interest rate marketization reform continued to advance, the conversion of the pricing benchmark of existing floating interest rate loans was successfully completed as scheduled, the dividend of interest rate reform continued to be released, the transmission efficiency of monetary policy was enhanced, and the interest rate of corporate loans was significantly reduced. At the end of 2020, the weighted average interest rate of corporate loans nationwide was 4.61%, down by 0.51 percentage point from the end of last year, the lowest level since statistics were available in 2015. At the same time, the financial system did everything possible to reduce the financing costs of enterprises and successfully achieved the goal of making profits of 1.5 trillion yuan to the real economy.

　　Fourth, the financial support for the "three major battles" has achieved remarkable results. In 2020, the battle to prevent and resolve financial risks has achieved important milestones. P2P platforms have all been cleared, various high-risk financial institutions have been disposed of in an orderly manner, the scale of shadow banking has been reduced, the risks of asset management products have obviously converged, and the nesting of inter-bank associations has been continuously reduced. At the same time, the People’s Bank of China resolutely supports winning the battle against poverty. In the past five years, the poverty-stricken population and industrial precision poverty alleviation loans have accumulated more than 6.5 trillion yuan, benefiting more than 90 million poor people and helping all poverty-stricken counties to remove their hats. In recent years, the People’s Bank of China has supported green development and ecological civilization construction through green finance, which has been widely praised by the international community. At present, the balance of green credit in China ranks first in the world, and the stock scale of green bonds ranks second in the world.

　　In 2020, in order to help China’s real economy, especially small and micro enterprises, reduce the serious impact and impact of the epidemic, the People’s Bank of China will also guide the financial system to make profits of 1.5 trillion yuan to the real economy through measures such as lowering interest rates, reducing fees, and delaying the repayment of principal and interest.

　　At the same time, four policies and measures have been introduced to support the financing and stable development of small and micro enterprises: First, two monetary policy tools that go directly to the real economy have been innovated, and the central bank’s funds have been used to encourage banks to extend loans to small and micro enterprises, so as to substantially increase the supply of credit loans. The second is to increase inclusive policy support for small and micro enterprises in key areas. The third is to improve the financial service capabilities of commercial banks’ own small and micro enterprises. The fourth is to give play to the policy synergy of "several promotion" and improve monetary, regulatory, fiscal and taxation and external policy incentives. Last year, the financing of small and micro enterprises achieved remarkable results of "volume increase, price decrease and area expansion". By the end of the year, the balance of Pratt & Whitney small and micro enterprises was 15.1 trillion, a year-on-year increase of 30%. In 2020, 32.28 million business entities were supported, an increase of 5.24 million over the previous year.

　　Chen Yulu said that in 2021, a prudent monetary policy will be more flexible, accurate, reasonable and moderate, and will continue to maintain the necessary support for economic recovery.