Recently, the Central Bank releases important information, chinese people bank decides, since July 5, 2018, reduce reserve of deposit of RMB of bank of commercial bank of country of region of county of commercial bank of state-owned and large commercial bank, share-holding system commercial bank, postal savings bank, city, blame, foreign capital to lead 0.5 percent, namely so called directional fall accurate, what we pay close attention to is, this directional fell how to many money release definitely (fluidity) ? Dry what does the money that release use?
According to the information of the Central Bank, released 700 billion yuan fluidity this, among them 500 billion yuan, use at support to commercialize law to change " debt turns " project, additionally 200 billion yuan basically are used at supporting relevant bank to develop market of small small company, extend small small company borrows money, alleviate further expensive issue of difficult financing of financing of small small company.
Be worth what carry is, the news that the Central Bank announces mentions clearly: "Directional fall accurate capital does not support " a solid debt " and " corpse enterprise " project " . And, the Central Bank continues to carry out fulfil " the monetary policy of dovish neutral, hold fine structure sex to go the strength of lever and rhythm, for high quality reform of development and sex of supply side structure builds appropriate monetary banking environment " .
Also can see, current monetary policy still is dovish neutral, don't have comfortable? Nevertheless, usually, fall the signal market that releases definitely is understood to be the signal with loose money, my individual thinks, this directional falling is existence definitely " turn on the water " , but do not have monetary flood flooding, it is at most " essence of life irrigates definitely " (compared with 10 years before that, this kind is pediatric at all) . If want to ask two sensitive questions, one is to fall the capital after allowing can flow to estate domain, this is possible of course, but as to can indirect inpour how many really bad to said, is another problem fall this accurate with fundamental money can derive fluidity of how many credence? This should treat condition of real market demand, and the loan ability of the bank and apiration, current after all financial department is in go bar bar and severe superintendency setting.
Have to our country economy how old influence?Speak of this second have to our country economy how old influence, want to know the state with located economy of next current our country first, the annulus of social financing dimensions of the Central Bank was compared May " cutting sb in two at the waist " , make the market afraid and current " credit is constrictive " the influence to economy, in the meantime, the data that place of national statistic bureau published May shows, pulling the 3 in driving carriage investment that use our country economy and consumptive data is not very hopeful, to our country economy brings pressure of constant be issued to lower levels on whole, say so, the market expects the Central Bank allows to come through falling in order to pacify, this the Central Bank falls accurate fund use already very clear, one is to be used at support to commercialize law to change " debt turns " project, this understandable come at advancing structural sex to go steadily definitely through falling for the Central Bank lever, for economy high quality develops and reform of sex of supply side structure builds good monetary environment, understandable also dissolve financial venture to be on guard, (leverage of hypostatic economy of current our country is higher it is point of one gale danger) .
It is another bit to basically be used at supporting relevant bank to develop market of small small company, extend small small company borrows money, alleviate further expensive issue of difficult financing of financing of small small company. Medium and small businesses is alluded again, and attention rate is higher recently, below current economy setting, the task it may be said that place of medium and small businesses assumes is not small, data shows: Up to 2017 end, small small legal entity makes an appointment with 28 million, still have additionally individual and industrial and commercial door about 62 million, in small small company (contain individual and industrial and commercial door) the proportion that takes overall market principal part exceeds 90% , contributed the obtain employment of 80% above of countrywide, the invention of 70% above is patent, the GDP of 60% above and the taxation of 50% above. Can see the value of medium and small businesses from which, say so, below pressure of current economy be issued to lower levels, the Central Bank falls to support the financing of medium and small businesses definitely, support the development of medium and small businesses namely, pull greatly move our country economy and drive obtain employment of our country market.
Say more finally, fall to be opposite definitely the market is short-term have carry display vigour to use, but may create constant pressure to exchange rate likewise?
Annotations: The article does not suggest as investor.
