The real economy caters to the expanded version of financial support, and the stock market is also blowing a breeze？
The real economy caters to the “expanded version” of financial support, and the stock market is also blowing a breeze?
The global financial market has been turbulent recently, and the impact of the epidemic on the domestic market has also been written in the February financial data. Under this background, the targeted reduction in standards has arrived as scheduled.On March 13, it was preliminarily announced that it decided to implement a targeted reduction in inclusive finance on March 16 to reduce the targeted reduction to 0 for banks that meet the assessment criteria.5 to 1 advantage.In addition, the qualified joint-stock banks will be additionally targeted to reduce the quota by one alternative to support the issuance of loans in the inclusive financial sector.A total of 550 billion yuan of long-term funds have been released through the above targeted reduction.Almost all other countries have cut interest rates to save the market, and gradually made it clear in the announcement that the implementation of targeted RRR cuts is to support the development of the real economy, and the monetary policy “puts support for the recovery and development of the real economy in a prominent position” without flooding.An additional $ 550 billion to bail out SMEs has been brewing for a long time.At the press conference of the State Council Office on February 27, Liu Guoqiang, the vice president of the transition, disclosed that he would lower the standard for banks that meet the standards of inclusive financial services.The Executive Meeting of the State Council on March 10 put forward the introductory measures for inclusive reduction of inclusive finance, and increased the reduction of shareholding banks.”Inclusive reduction of inclusive finance is urgent and necessary.Pan Helin, executive dean of the Digital Economic Research Institute of Zhongnan University of Economics and Law, told the sauna and Yewang that the sudden emergence of the new coronary pneumonia has caused a significant impact on the economy. At present, all aspects of the resumption of production and production have not yet been fully coordinated.There is a block transfer, and the demand for the real economy is weak.In particular, many small and micro enterprises and individual industrial and commercial households still face survival and production difficulties, requiring greater efforts and more precise financial relief.The first price cut to the stock bank will be reduced by another copy, which is also a manifestation of the precise investment of funds.Guo Tianyong, director of the Banking Research Center of the Central University of Finance and Economics, told reporters that between large state-owned banks and city commercial banks among joint-stock banks, the operation is autonomous and highly complex, and business innovation capabilities are relatively strong, especially in retail, small and micro enterprises.The business has done relatively well, the market share of the business is relatively high, and the business development is relatively mature.Since the opening of the financial market in early February, it has gradually provided 300 billion special re-loans, 500 billion re-loans, and then discounted the special quota, and through the reduction of agricultural support, small re-interest rates of 25 basis points and open market operations, etc.Billion liquidity.The color of the chief economist of Founder Securities said that the forthcoming directional RRR cut is a “supercharged version”, releasing long-term funds of 550 billion US dollars. In the current global stock market turmoil, it is conducive to maintaining sufficient liquidity in the market and also conducive toStabilize investor confidence.It has helped to boost the confidence of the stock market and the property market. The global stock market has recently plummeted and successively staged a “melt tide”. This stock market is also shallowly volatile. What impact will the targeted RRR cut have on A shares?Jiang Han, a senior scholar at Pangu Think Tank, believes that judging from the results of the country ‘s targeted downgrade in recent years, most of the downgrade funds are still relatively clearly flowing into the real economy needs, so there are good reasons to believe that this targeted downgrade will notToo many direct impacts on stock market transactions, but the targeted reduction of standards will help companies to further develop, and indirectly will also drive investment demand in the capital market.Color believes that the effects of early monetary and fiscal forces are gradually being realized, and market emotional panic has been released.The recent stock market turbulence is mainly affected by the panic sentiment caused by the outbreak of foreign epidemics. After the emotional shocks are alleviated, China ‘s integration of stable fundamentals and timely and effective anti-epidemic measures will be integrated. The stock market is expected to be more than the financial markets of other major economies.Strong.From the perspective of the impact on the property market, Guo Shiying, an analyst at the Zhuge Property Search Data Research Center, said that the gradual reduction of the directional impact on the real estate market is relatively small. At present, the financial situation of the real estate market still maintains a high pressure, and it is still difficult for funds to enter the real estate market.However, the expansion of the RRR will definitely increase the confidence of the market.”The positioning of housing and housing is not relaxed, but for the truth, the rivers are full and the rivers are full, at least not bad news.It can be expected that the real estate market will gradually adhere to steady guidelines, and there will be no very stringent financial substitution policies for the first housing and improving demand, or will soon support them.”Pan and Lin said.The comprehensive RRR cut and “interest rate cut” also spread through the spread of the new overseas coronary pneumonia epidemic along the way. The global interest rate cuts have revived, and the intensity has been strengthened. The room for monetary and monetary policy adjustment has also expanded.Color predicts that in order to further reduce financing costs and support enterprises to successfully survive the impact of the epidemic, overall monetary policy will remain more reasonable and sufficient, and there may still be two opportunities for full reductions this year.According to public information, in January of this year, the transition had undergone a comprehensive RRR cut and the deposit reserve ratio of financial institutions was lowered by 0.Five totals, releasing more than 800 billion yuan.Guo Tianyong believes that the possibility of a comprehensive RRR cut is not ruled out, but the release of liquidity must consider both the scale and the structure. Directed RRR cuts are more structurally beneficial. A comprehensive downgrade will worry about capital flows to real estate and overcapacity projects.This is what the current budget policy does not want to see.The preliminary release is also expected to implement a prudent monetary policy, be more flexible and appropriate, do not flood the water, balance the internal and external balance, and maintain reasonable and sufficient liquidity.Li Xunlei, chief economist of Zhongtai Securities, said in an interview with Yeenet that the recent decline in the US market has led to an impact on internal liquidity. The resulting directional RRR cut has released US $ 550 billion in liquidity, which is also prepared.There is still room for a full-scale RRR cut and “interest rate cut” in the next step, but it must be implemented in phases. If the gradual data in March drops back, it may be more secure to lower the interest rate for MLF (gradual lending facility) operations.Some officials also predicted that the “rate cut” would be earlier.Weighing in colors, the world has entered into monetary easing, the US once again cut interest rates locally, and certain monetary policy room for interest rate cuts is completely open.Although the peak of the domestic epidemic has passed and is gradually being controlled, the domestic stock market is still suffering from the shock of the overseas market plunge.Stabilizing the stock market is an important requirement for long-term overall monetary policy. If the domestic stock market continues to decline, the MLF interest rate may increase by 10 basis points next week.Among them, the one-year MLF may be reduced by 10 basis points, and the five-year period will be reduced by 5 basis points.The data shows that in February this year, it is expected that the reverse repurchase and MLF interest rates have been lowered successively, driving the LPR (loan market quoted interest rate) quotation down in February.Sauna, Ye Wang Cheng Weimiao Editor Li Weijia Proofreading Liu Baoqing