What is the prospect of the financial industry?

20021April 12, the central bank held a press conference on financial statistics for the first quarter of 2002/KLOC-0. At the meeting, Sun Guofeng, Director of Monetary Policy Department, interpreted the financial data in the first quarter. Sun Guofeng made it clear that monetary policy will focus on me, keep the word steady, maintain its strength and cherish the normal monetary policy space.

In the next step, we should adhere to the concept of cross-cycle design, take into account the current and long-term, maintain the continuity, stability and sustainability of macro policies, maintain a flexible, accurate, reasonable and moderate prudent monetary policy, and keep the growth rate of money supply and social financing scale basically matching the nominal economic growth rate.

Monetary policy is stable.

Since the beginning of this year, the monetary policy has been steady, and money and credit have maintained a reasonable growth. From the perspective of the whole year, the growth rate of M2 money supply and social financing scale basically matches the nominal economic growth rate. In terms of total volume, the supply of M2 increased by 9.4% at the end of March, and the scale of social financing increased by 12.3%, which was 0.8 percentage points higher than the same period of last year. The growth rate of M2 money supply and social financing scale basically matches.

In the first quarter, new loans from financial institutions reached 7.67 trillion yuan, an increase of 574 1 billion yuan over the same period of last year. In terms of interest rate, the corporate loan interest rate in 20021February was 4.56%, which was 0.76 percentage points lower than that in July 20 19 before the reform, and was the lowest level since statistics.

In terms of interest rate, the corporate loan interest rate in February 20021year was 4.56%, which was 0.76 percentage points lower than that in July 20 19 before the reform, and was the lowest level since statistics.

The pace of credit supply by financial institutions should be moderate.

It has maintained the continuity, stability and sustainability of supporting the real economy and improved the stamina for the development of high-quality services. Structurally, the credit structure continued to be optimized, and financial institutions increased their support for medium and long-term loans to small and micro enterprises and manufacturing industries. Among them, by the end of 2020, the balance of medium and long-term industrial loans will increase by 65,438+09.93% year-on-year. At the end of 20021February, the balance of small and micro loans and industrial medium and long-term loans increased by 35.5% and 38.8% respectively.

The financial system gives consideration to profit and risk prevention and control.

It is worth mentioning that last year, the financial system strengthened its risk prevention and control capabilities and increased its support for the real economy while making real profits. On the one hand, the profits of commercial banks fell by 2.7% in 2020, which is the first negative growth since 2003. This is mainly because commercial banks have brought more profits to entities by lowering interest rates.

On the other hand, since the second half of last year, the unit loans overdue amount and overdue rate have both declined. By the fourth quarter of 2020, the balance of non-performing loans in China's commercial banks was 2.7 trillion yuan, and the non-performing loan ratio was 1.84%, down by 0.02 percentage points compared with the same period of last year.

202 1 According to the unit loan transaction data collected by the national financial basic database built by the People's Bank of China, the unit loans overdue amount at the end of February decreased by 1.8% compared with the end of August last year, and the overdue rate decreased by 0.25 percentage point compared with the end of August last year.

China's financial market is running smoothly.

Regarding the impact of recent market expectations on the US monetary policy situation, there have been some fluctuations in the global financial market, especially in some emerging economies. At the same time, China's financial market is running smoothly, the RMB exchange rate fluctuates in both directions, and the yield of China 10-year government bonds remains at around 3.2%, which is lower than the previous level, indicating that China's cross-border capital flows are generally balanced, and the role of implementing normal monetary policy continues to emerge.

In the next step, China's monetary policy will focus on me, adhere to the normal monetary policy, keep the word steady, maintain its strength and cherish the normal monetary policy space. At the same time, we should pay close attention to the changes in the international economic and financial situation, enhance the flexibility of RMB exchange rate, coordinate international macro-policies with China as the mainstay, and maintain the global leading position of macro-policies.

-For more data, please refer to the analysis report of innovation trend and enterprise development strategy of China Financial Industry Research Institute.