■ sharp violent wind raises interest rate of short-term loan of breed of of the previous night of a person of same business between bank of near future Shanghai. CFP offers a plan
According to committee of monetary policy of bank of people of China of report of Xinhua News Agency to sit a meeting emphasized a few days ago, want to continue to implement firm monetary policy, strengthen and improve fluidity management.
Committee of Central Bank monetary policy is in pointed out on regular meeting of the 2nd quarter 2013, finance of economy of current our country moves overall and smooth, prices situation is stabilized basically, but also faharrison hot spring weather forecastce many difficulty and challenge. The conference emphasizes, should pay close attention to finance of international country economy closely newest tendercy and the change that international capital flows, continue to implement firm monetary policy, and exert oneself enhances policy before look up sex, specific aim and flexibility, timely and measurable undertathe most popular watch caseske preliminary adjustments fine tuning.
The conference points out, want framework of perfect and macroscopical cautious policy, use a variety of monetary policy tools integratedly, strengthen and improve fluidity the best selling north face shirtsmanagement, guide monetary credit and social financing dimensions to grow smoothly moderately. In keep stability of macroscopical economic policy, successional while, optimize financial natural resources to configure, with good increment, dish put an amount alive, stronger n holds economic structural adjustment and transition to upgrade, serve hypostatic economy to develop better, do good banking venture more solidly to be on guard.
The conference still points out, want to advance interest rate to commercialize reform further, older rate develops market mechanism to configure medium fundamental sex action in resource. Continue to advance RMB exchange rate to fashion mechanism reform, maintain the basic stability of RMB exchange rate on reasonable and balanced lvancouver to harrison hot springsevel.
■ news is outspread
spring poolChinese type " Qian Huang " : Not be to do not have money, put a fault however place
According to report of Xinhua News Agency " Qian Huang " the most popular keyword in making instantly China economy. In June since the middle ten days of a month, "The of the previous night between the bank tears open solution interest rate " the line of sight that this very professional name begins to enter the public through media ceaselessly. Newest data of 20 days shows, the interest rate between Shanghai bank again all fronts rises, interest rate exceeds 10% first, achieve 13.44% breathtaking, this numerical value already achieved the history new tall. It is usually in people look least of all " poor money " large commercial bank begins tothe most popular norton internet antivirus join the main force that lends money, the money of the bank was used not quite!
Bank stock market lacks cash
Broad sense money is supplied however high speed increases
Appear in the fluidity of the commercial bank constrictive situation while, shanghai late stock market also begins all fronts to drop, investor begins to reduce the asset in holding a hand in succession, shanghai of past a week is deep two city add brass faucet aerator stock account number newly to drop considerably 58.47% , fall to the low inside year. Capital market also begins to face the awkward situation that capital pours out of.
Nevertheless, while with respect to the capital in financial orgnaization the face is in an emergency ceaselessly, the each finance data that Central Bank of not long ago publishs gives a person however with disparate feeling.
According to the statistical data that the two Central Banks before week publish, although integral monetary policy keeps dovish, but May M2 (supply of broad sense money) add compared to the same period fast be as high as 15.8% as before, add credit newly to measure tall still look forward to, what RMB deposit remaining sum also has approached two hundred and seventy-six million four hundred and forty-seven thousand two hundred and thirty-two yuan is big close, 1 - social financing dimensions achieved 9.11 trillion yuan in May, than going up year of the corresponding period is much 3.12 trillion yuan.
A large number of societies invest
Arrive without investment among hypostatic economy
Is China in really experience a fluidity constrictive " Qian Huang " ?
Two-phase contrast discovers not hard, of at present " Qian Huang " look seem oncoming force feral, actually is the structural sex fund that fault of a capital distributes to bring about nervous. Not be to do not have money, however money did not appear in proper place.
The central publish is as high as 4 trillion yuan of investment package plan after no matter was 2008,international banking crisis erupts, or since 2012, in " steady growth " be opposite below the target monetary policy is loose a series of fine tuning thatfree watch case change. Come a few years, chinese economy is in the condition with a kind of ample liquidity to fall from beginning to end. However meanwhile, the ratio of the M2 in macroscopical data and GDP is in however ceaseless amplification, to this year first quarter, the ratio of M2 and GDP is close already 200% , this means a money to put in what grow to economy to drive action to be in ceaseless and abate, also go out from report of a flank, many social financing arrives without investment actually among hypostatic economy.
Money of state-owend enterprise circle is easy
Cover interest repeatedly through financial lever again
Bring about financial industry is at present brief quality " Qian Huang " the element is very complex: As American economy time firm anabiosis, beautiful couplet store metage changes loose policy to will be exited gradually, make the speed of capital outflow begins to accelerate.
Besides, the element that leverage of interior of Chinese banking system magnifies ceaselessly is to not allow to igfree modern dining chairsnore more, a large number of capital invest through lever under the operation in financial orgnaization and time complex form a complete set takes benefit difference, capital gets profit in move back and forth of each financial interagency loop, "Shadow bank " be popular while,harrison hot spring deal also make the risk builds up ceaselessly.
Not only such, because our country is commercialized without interest rate,make the market medium the opportunity that existence superintends a benefit. In our country current credit and financing system fall, state-owned company relatively civilian battalion enterprise has congenital advantage on financing, obtain fund more easily with inferior cost, make its can undertake covering interest through trusting the kind such as loan thereby, the repetition that causes capital from this is calculated, the empty that brings about social financing gross then is added.
● analysis
The Central Bank does not release greater fluidity to allude monetary policy to begin to change direction
Be in just go this week, premier Li Kejiang chairs call together to open the State Council standing conference, the conference puts forward to want to optimize financial natural resources to configure, with good increment, free norton internet antivirusdish put an amount alive, transition of stronger support economy upgrades. "With good increment, dish put an amount alive " , had made a general policy that prospective China monetary policy adjusts. Notable is, be in market raise a cry of warning " Qian Huang " while, the Central Bank did not release more fluidity however, this one adjusting control is pointed to alluding it seems that, chinese monetary policy has begun what by simple measure adjusting control turns to quality and structure gradually to optimize.
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