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Financial "Live Water" Precise Drip Irrigation, Textile Foreign Trade Enterprises Won The Policy Of "Timely Rain"
On May 7, the State Council Information Office held a press conference in Beijing, at which it introduced the situation of "a package of financial policies to support stabilizing the market and expectations" and answered questions from journalists.
Under the current economic situation, how can we cope with the uncertainty of rapid changes in the external environment with the certainty of high-quality development? At the press conference held by the State Reform Office on the 7th, the heads of the People's Bank of China, the General Administration of Financial Supervision and the CSRC announced a package of heavy financial policies, releasing a strong signal of stabilizing the market and expectations.
Among these policies, the most striking one is to extend the financing coordination mechanism to support small and micro enterprises to all foreign trade enterprises.
Increase the intensity of macro-control to effectively support the real economy
Macro policy is an important driving force for the stable operation of the economy. In what ways will moderately loose monetary policy work?
Reduce the deposit reserve ratio by 0.5 percentage point, the policy interest rate by 0.1 percentage point, the structural monetary policy tool interest rate by 0.25 percentage point, and the personal housing provident fund loan interest rate by 0.25 percentage point... The People's Bank of China President Pan Gongsheng announced a package of monetary policy measures to increase the intensity of macro-control.
"The above policy measures will provide financial institutions with sizeable, low-cost medium and long-term funds, which is conducive to reducing the debt costs of financial institutions and stabilizing the net interest margin. The policy effects will also be further transmitted to the real economy, driving social comprehensive financing costs to decline steadily, boosting market confidence, and effectively supporting the steady growth of the real economy." Pan Gongsheng said.
Accurate development of financial support in foreign trade
Enterprise is the cell of economy. Enterprises have vitality and economic development has power.
Li Yunze, Director of the General Administration of Financial Supervision, said that under the background of the increasing impact of the current external shocks, he would formulate and implement a series of policies and measures for the banking and insurance industry to escort the development of foreign trade, provide precise services to market entities that are greatly affected by tariffs, and spare no effort to help stabilize operations and expand markets.
"We will extend the financing coordination mechanism to support small and micro enterprises to all foreign trade enterprises, promote banks to speed up the implementation of various stable foreign trade policies, and ensure that all loans should be made and continued. For market entities that are greatly affected by tariffs and have temporary difficulties in operation, 'one enterprise, one policy' provides precise services," Li Yunze said.
Li Yunze said that the State Administration of Financial Supervision will formulate and implement a series of policies and measures for the development of foreign trade escorted by the banking and insurance industry, and increase financial support in accordance with the principles of marketization and rule of law. First, strengthen financial rescue. We will expand the financing coordination mechanism to all foreign trade enterprises, promote banks to accelerate the implementation of various foreign trade stabilization policies, and ensure that all loans should be made and continued. For market entities that are greatly affected by tariffs and have temporary difficulties in operation, "one enterprise, one policy" provides precise services. Second, afterburner stabilized the outlet. We will optimize export credit insurance regulatory policies, improve underwriting capacity, provide preferential rates, implement fast claims and prepayments, and stabilize enterprise order acceptance and export confidence. Urge institutions to provide financial services in key areas such as cross-border e-commerce and overseas warehouses, support the development of exclusive insurance, guide banks to launch comprehensive and one-stop services, and support the development of new forms of foreign trade. Third, help expand domestic sales. Strengthen the financing guarantee for foreign trade enterprises' export to domestic sales. Guide the establishment of "domestic trade insurance coinsurance body", launch exclusive products, and promote the expansion and increase of domestic trade insurance. We will take multiple measures to support consumption promotion and expand domestic demand, open up space for foreign trade enterprises to expand their sales, and help accelerate the integration of domestic and foreign trade.
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