Jinan Branch of the People’s Bank of China innovated the use of policy tools to promote the use of re-loan and re-discount to a record high


In 2020, in order to effectively deal with the impact of the epidemic, the Head Office of the People’s Bank of China issued two direct tools to the real economy.In 2021, based on the situation of high economic growth and low economic growth, PEOPLE’s Head Bank has introduced a number of monetary policy tools.On January 25, 2022 afternoon, the reporter learned from the government information office held a news conference in shandong province, jinan branch of the people’s bank of nut seriously carry out the steady monetary policy, through the establishment of provinces, cities and county level 3 monitoring analysis of linkage mechanism, strengthening the “window guidance”, continue to strengthen across cycle adjustment, pay attention to play to the monetary policy tools to the total amount and structure of the dual function,More funds have been guided to land in Shandong, and all loans and corporate loans have increased year on year, creating a favorable monetary and financial environment for the steady and sound development of the province’s economy.First, the innovative use of refinancing, rediscount and other policy tools.Refinancing and rediscounting are traditional structural monetary policy tools.In 2021, focusing on better serving small and micro enterprises, technological innovation, green development and rural revitalization, Jinan Branch of the People’s Bank of China will vigorously promote the pledge of third-party bonds, innovate the models of “re-loan + financing guarantee” and “re-loan + fiscal awards and subsidies”, and set up 15 billion yuan for carbon reduction and 5 billion yuan for scientific and technological innovation respectively.To promote the use of reloans and rediscounts to a record high.A total of 279.6 billion yuan of reloans and rediscounts were issued throughout the year, 1.7 times that of the previous year, and all 251 local legal person banks in the province were supported by reloans.At the same time, we earnestly implemented the policy of lowering the reserve requirement ratio twice across the board, releasing 131 billion yuan of long-term funds for financial institutions in Shandong province and reducing the cost of capital by about 1.6 billion yuan per year.The second is to fully use two direct tools.The two direct tools are the PrATT & Whitney Small and Micro Business Loan Extension Support Tool and the Credit Loan Support Program, which were created by the People’s Bank of China to deal with the impact of the severe epidemic in 2020. The policy will be implemented until the end of 2021.In concrete implementation, we have organized financial institutions to focus on key aspects of mitigating financing difficulties, such as the cultivation of primary loans, credit loans, and extended loans. We have deepened the connection and business guidance between the government, the banking sector and enterprises, and stepped up financial assistance and assistance to enterprises.By the end of 2021, a total of 1.43 billion yuan was provided to local corporate banks as incentive funds for deferred debt repayment and interest payments, and 143.1 billion yuan was directly supported by banks in extending deferred loans to 120,000 enterprises.A total of 29 billion yuan of credit incentive funds were provided to banks, and 78.1 billion yuan of small and wechat credit loans were granted to 460,000 enterprises.Third, the policy dividend of the carbon emission reduction support tool and the special reloan for the clean and efficient utilization of coal will be continuously amplified.The two new instruments are designed to support financial institutions to issue loans at preferential interest rates to key areas of carbon emission reduction and industries related to clean and efficient utilization of coal by providing low-cost funds to financial institutions.In order to release the policy dividend more quickly, Jinan Branch of the People’s Bank of China has carried out policy publicity in various forms and provided special guidance to financial institutions.Jointly introduce special support measures with provincial Development and Reform Commission and other departments;At the same time, the content of the new policy and the key points to grasp to the city and county governments to create conditions for the implementation of tools in our province.”At present, the work is progressing smoothly, the 21 branches of national banks in the province actively carry out bank-enterprise docking, take the initiative to provide loans to relevant projects, and report the loans that meet the policy incentive conditions to the head office for summary and apply for re-loans to the People’s Bank of China.”Dong Longxun, deputy governor of jinan Branch of the People’s Bank of China, said.At the same time, in order to successfully cultivate more borrowers for carbon emission reduction support tools, Jinan Branch of the People’s Bank of China has promoted the rapid growth of green credit in the province through standardized standards, innovative products, strengthening incentives and constraints and other measures.At the end of 2021, the province’s green loans increased 48.7% year on year, 35.3 percentage points higher than the growth rate of all loans.The registered amount of carbon emission right pledge and the loan amount of carbon emission right pledge rank first in China.Fourth, we will continue to deepen the reform of the loan market quoted interest rate (LPR).In 2021, Jinan Branch of THE People’s Bank of China will promote the optimization of deposit self-discipline management, further promote the work of explicit loan annualized interest rate, standardize loan products and services of various financial institutions, and promote the steady decline of the cost of liabilities and the pricing of assets of banks.At present, all branches of national financial institutions, urban commercial banks and rural commercial banks in the province have established internal fund transfer pricing mechanism (FTP) and embedded LPR into FTP.In 2021, the weighted average interest rate of new enterprise loans in the province was 4.55%, the lowest level since statistics began.The effective use of monetary policy tools not only provides low-cost funds for financial institutions, but also transfers low-cost dividends to the real economy through the reform of interest rate liberalization.Next, the people’s bank jinan branch will adhere to the word pledge, seek improvement in stability, intensify across cycle adjustment, further monetary policy play a good tool to the total amount and structure of the dual function, more aggressive, more active and promising enough, accurate, top, encourage financial institutions to continue to enhance the support to the real economy,Make due financial contribution to promote the high-quality economic development of the province.Edited by Li Yan and reviewed by Wang Jingjing

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