Wang Zhaoxing, the former Vice Chairman of the State Council, Wang Zhaoxing: Financial institutions should meet the reasonable financing needs of trapped housing companies

On August 20th, at the 2022 Summer Summit of the China Wealth Management 50, Wang Zhaoxing, Counselor of the State Council and former vice chairman of the CBRC, delivered a speech that at present, the demand for effective financing of the real economy, the abundant liquidity of the financial system to the credit market and the real economy The transmission is not smooth enough. Financial institutions are also facing the problem of "asset shortage", which means that there are problems with the channels of currency to effective investment and transmission.

The China Manufacturing Purchasing Manager Index (PMI) index (PMI) issued by the China Logistics and Purchase Federation and the National Bureau of Statistics and the National Bureau of Statistics was 49.0%, which has dropped below the Rongku Line, and the increase in consumption and industrial added value is less than expected.

Wang Zhaoxing said that the key to stabilizing the macroeconomic market lies in stabilizing expectations and boosting confidence. At the same time, it is necessary to pay attention to the organic combination of effective demand for short -term expansion and promotion of supply -side structural reforms in the medium and long term.

He put forward multiple suggestions, mentioning that financial institutions should meet the rational financing needs of trapped real estate companies under the principles of marketization and legalization, and maintain normal loans to the real estate industry.

Strengthen support for effective investment financial support

Specifically, Wang Zhaoxing made five suggestions as follows:

First, further expand the support of development and policy finance. Open and policy finance is an important tool for regulating counter -cycle regulation, which has the function of restraining the economic cycle. In the case of limited fiscal policy space and difficult transmission of monetary policy, giving full play to policy tools such as developmental finance and policy finance. Investment support is very important.

Wang Zhaoxing believes that on the one hand, it is necessary to expand the funds of policy development finance and expand effective demand; on the other hand, it can also guide commercial institutions to provide supporting financial support. Put it. Of course, it is also necessary to pay attention to the use of development and policy tools in a market -oriented manner to maximize the efficiency of use. At the same time, guide and promote more social funds and business funds to follow up.

Second, accurately cover the financial needs of new citizens, and promote the stable growth of social consumption.

Third, strengthen financial support for effective investment, especially technological innovation.

my country is currently in the rapid development of new industrialization, informatization, urbanization, and agricultural modernization. The potential of investment, the demand for investment, and the space for investment are very huge, including green transformation and "double carbon" goals. Demand areas. Effective investment also plays a key role in my country's current economic recovery and development. Especially for investment in scientific and technological innovation, it can not only promote the stable growth of employment, but also make up for shortcomings and adjust the structure. Important kinetic energy.

Finance must actively innovate the financing mechanism and provide sufficient financial support for expanding effective investment, including doing a good job of infrastructure construction, new urbanization, transportation water conservancy, etc., as well as some new infrastructure projects.

In the case of controllable risks, focusing on the characteristics of different stages of scientific and technological innovation enterprises, creating a comprehensive financial product service that differentizes the life cycle, and effectively uses various financial direct and indirect financing instruments to provide more financial support for scientific and technological innovation enterprises. Essence This is very important for the current and even long -term.

Promote the healthy development of real estate

Fourth, to promote the healthy development of real estate and a virtuous circle. We do n’t say that real estate is the pillar industry of China's economic development, and it is not to say that it is the most important drag on economic pressure, but after all, it is an important department in the national economy. There is also a long industrial chain with a long upstream and downstream. Economic investment consumption is driven, and even the economy still has an important role, so we must attach great importance to the healthy development of the real estate market.

my country's real estate market is at an important stage of the new and old model transformation. Recently, real estate companies with high leverage, including individual large real estate companies, have debt crisis, and some project suspension has triggered a suspension of mortgage to the real estate industry. Future development expectations and confidence are affected.

From January to July this year, the national real estate development investment decreased by 6.4%year -on -year, the sales area of ​​commercial housing decreased by 27%year -on -year, and the real estate development prosperity index reached a new low. In view of a connection effect of real estate, to stabilize the current economic market, it is necessary to stabilize the real estate market. It is necessary to prevent the risk of "big fall".

Under the principle of marketization and legalization, financial institutions meet the reasonable financing needs of trapped real estate companies, and maintain normal loans to the real estate industry. In response to the decline in the willingness of residents to buy a house and the market watching emotions, we must further improve the relevant real estate policies to better meet the needs of rigid and improving housing. It is necessary to actively explore the new development model of real estate development, and to continuously innovate and enrich the relevant tools of real estate financial policies.

Recently, there is another phenomenon. Personal mortgage has increased loans in advance, making the growth of personal mortgage loans in real estate has also been affected by this. We also need to analyze it. Personal mortgage loans are repaid in advance, and a group effect is formed. Behind it is behind it is that behind it is behind it is behind it. Behind it, it is behind it. Behind it, it is behind it. What kind of reason.

Fifth, resolutely keep the bottom line that does not occur without systemic financial risks. The downside of the domestic economy will cause the credit environment to deteriorate, the economic situation is severe, and more financial risks may also come out. Once a major financial risk erupted, it will drag down the stability and healthy development of the economy, so it is necessary to comprehensively analyze the impact of economic fluctuations, economic cycles and macroeconomic policies on financial risks, take control and preventive measures in time, properly respond to non -performing asset rebounds, prevent high high prevention of high assets, prevent high high assets, prevent high high assets, prevent high high assets to prevent high high assets, prevent high high assets, and prevent high assets. The risk "Shadow Bank" rebounds, strengthen supervision, strictly prevent funds from being detained, and severely crack down on debt -escape debt and various types of illegal financial activities to maintain the regional credit environment and financial order. Wang Zhaoxing said that recently, some small institutions in Anhui and Henan have financial risks, including difficulty in deposit payment, and great losses. There are also individual institutions suspected of serious crimes, forming the risk of public, causing social instability. Although it is not a systemic risk and does not cause regional systemic risks, it is a signal of credit risk after all, and we still need to pay close attention.

For key institutions that are obviously exposed by risks, we must resolutely deal with, prevent risk spread, and cause hype and market fluctuations, and resolutely maintain financial stability.

Daily Economic News

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