aion kinah while per cent less 288.2 billion yuan - JWI

On Saturday evening, the Central Bank announced a cut deposit reserve rate decided for the first time this year, the reduction of 0.5%, large financial institutions deposit reserve rate fell to 20.5% in China, small and medium financial institutions deposit reserve rate fell to 17%, one-time release of about 400 billion yuan of liquidity in the banking system. Market participants believe that, as the section investmentGradual recovery, credit demand, central banks choose to cut deposit rates aoc gold, designed to further free up liquidity in the banking system, alleviating the current market tension rift plat, meet the financing needs, supporting the real economy development. In fact, this is the people's Bank of China cut for the second time in 3 years deposit reserve ratio, the last was more than two months before the November 30, 2011. MacroPrudent management: maintaining the policy of flexibility "central banks cut deposit reserve rate at this time was extremely nervous market liquidity, interest rates soared on Friday and timely response. "The Political Commissar of the Societe Generale Economist interviewed by reporter Lu pointed out that the so-called macroprudential policy, the basic requirement is to maintain a policy of continuity and flexibility. On February 17 the interbank market liquidityReal more tense, borrowing the term interest rates are rising sharply and overnight interest rates compared with the previous trading days surged 122 basis points. Since the beginning, in order to maintain market liquidity at a reasonable level, the Central Bank suspended the central issue before Spring Festival, and according to the actual demand of the two short term reverse repurchase, $ 352 billion in trading volumes. On February half moonOnly a total of $ 62 billion to buy back, sources say, late last week, the Central Bank again conducted a reverse repurchase. Financial statistics in January this year, at the end of January, M2 rose 12.4%, 1.2% per cent lower than at the end of last year, RMB loans increased $ 738.1 billion, per cent less 288.2 billion yuan, RMB deposits 800 dollars, reduced by more than $ 780 billion. The fourth quarter of last year, China's capital and financial account deficit $ 47.4 billion, was the 2010 deficit for the first time since the quarterly publication of the data. Bank Chief Economist lianping panshan analysis more fully, he told reporters said the main reasons of this deposit rate cut: one is the current tight liquidity, domesticMoney market interest rates higher deposits significantly reduced bank lending, and is constituted of external sources of liquidity, foreign exchange accounts for the second Delta at a low level in the near future; three are public markets expires not much money in the first half, almost rare in recent years. Cut the deposit rate to maintain market liquidity as a whole was at a reasonable level, easing pressure on market liquidity, strengthen bank lendingTo increase financial support for the real economy. Ping an securities Banking Analyst Dou Zeyun, believes that determining factor in loan growth this year will return to its own loan to deposit ratio and capital adequacy ratios, credit growth will be highly associated to deposit growth in the future. Reserve rate cut: the tone was not a policy change to face the current situation, there is no doubt that further enhance the policy of flexibleAnd targeted, well adjustable fine tuning is particularly important. Emphasize the central economic work Conference and the national financial work Conference, continue to pursue a prudent monetary policy, closely monitoring economic and financial developments and changes at home and abroad, increased regulation and targeted, flexible and forward-looking, timely appropriate fine tuning adjustment. Issued by the Central Bank in 2011 fourth-quarter monetary policy report requirements, The current should be further maintain the continuity and stability of policies, closely monitoring economic and financial developments and changes at home and abroad, increased regulation and targeted, flexible and forward-looking, moderate preconditioning in due time fine-tuning, raising the level of financial service of the real economy, effectively preventing systemic financial risk, and maintain the stability of the financial system, promote the overall price stability and faster economicExhibition. Galaxy securities Chief Executive Consultant Zuo Xiao Lei believes that January because not a lot of economic activity, lending not many, M2 growth will not be very big, demand for currency in addition to the Festival other than consumer demand, not much production needs. And after the lunar new year, will return to normal economic activity, 2 March aion kinah, credit and investment requirements are relatively large, thenWith the directed easing need funds to SMEs matching, so the Central Bank to inject a little more money, and increase bank lending to business capital, to meet the needs of all parties. However, market the use of monetary policy instruments should not be understood as the Central Bank's monetary policy changes in tone, but embodiment of policy flexibility. In fact, the upward pressure on prices and economic downward pressureStill coexist, January CPI rose 4.5%, 1.5% rose, rose exceed market expectations, inflation is expected to remain unstable, particularly the factors tightening supply of structural factors such as labour, resources prices has to be straightened out, inflation expectations are likely to be cured, and the prices are more sensitive to changes in aggregate demand, internal expansion coupled with economic pressures,Global liquidity loose continuation patterns, commodity prices further upward pressure exist, there is still a need to prevent future prices to rebound. "Overall, the general price level of basic stability will not be unconditional, or automatically execute require macro-policies continued to hold the right intensity and rhythm. "Strategic development, Senior Economist for Bank of China Zhou Jingtong said:" this year in the complex economic situation,Macro-control is still needed to maintain stable and rapid development of the economy, readjust the economic structure, and finding the balance between managing inflation expectations. "Supporting the real economy: direct financing of development must be" worthy of note is the January community size of less than $ 1 trillion, fall of 45.66%. Since 2010, RMB loan proportion of the total amount of Community financing has beenMaintenance of above 50% levels. January lending 738.1 billion yuan, while per cent less 288.2 billion yuan, but its share of the total amount of Community financing is improved significantly to 77%. "Macro-strategic planning department, the agriculture Bank analyst Yuan Jiang said:" due to poor capital market conditions, direct financing showed a significant reduction of the market. Territory of the obvious non-financial enterprisesStock financing $ 8.1 billion, up $ 65 billion less. In addition, net corporate bond financing $ 44.2 billion, up $ 57 billion less. "Therefore, to maintain a reasonable scale of social finance growth, increased support for socio-economic priority areas and weak links, micro-enterprise financing difficulty of small, cannot only rely on indirect financing of banking institutions," a road ", but also to increaseSmaller the proportion of direct financing for micro-enterprises, further innovations for the small micro-enterprises "blood transfusion". Broaden the enterprises financing channels, we must strengthen the construction of capital market for small micro-enterprise financing and increase SME Board, the growth enterprise market for small micro-enterprise support, encourage venture capital institutions, and equity investment in small micro-enterprises, small enterprises development financing instruments such as bonds, goldFinancing and market development resources to better serve the real economy. ����And maintain a reasonable scale of social finance, increase direct financing, reducing indirect financing, reform and development direction of China's financial industry. Online statement Gold: gold online reprint of the above content, does not indicate that confirm the description, for investors ' reference only and does not constitute investment advice. Investor operations accordingly, at your own risk.