The Textile Industry Ushered In The First Positive News In 2020: The Central Bank Dropped 0.5 Percentage Points In January 6Th.

On the first day of 2020, the central bank sent the big news: 0.5 percentage points down in January 6th.

To support the development of the real economy and reduce the actual cost of social financing, the people's Bank of China decided to reduce the deposit reserve ratio of financial institutions by 0.5 percentage points in January 6, 2020 (excluding financial companies, financial leasing companies and auto financing companies).

The people's Bank of China will continue to implement a prudent monetary policy, maintain flexibility and moderation, not flood irrigation, balance the internal and external balance, maintain a reasonable and abundant liquidity, increase the growth of monetary credit and social financing scale, adapt to economic development, stimulate the vitality of market players, and create an appropriate monetary and financial environment for high-quality development and supply side structural reform.

People's Bank of China responsible person said: to support real economic development.

1, how to support the real economy?

Answer: this reduction is a comprehensive reduction, reflecting the counter cyclical regulation, releasing long-term funds of about about 800000000000 yuan, effectively increasing the sources of financial institutions' support for the stability of the real economy, reducing the financial cost of financial institutions supporting the real economy, and directly supporting the real economy. The reduction of liquidity and reasonable liquidity will help to realize the growth of monetary credit and social financing scale, adapt to economic development, create an appropriate monetary and financial environment for high-quality development and supply side structural reform, and use market reform to dredge monetary policy guidance, which will help stimulate the vitality of market players, further play the decisive role of the market in resource allocation, and support the development of the real economy.

2, will this reduction be beneficial to alleviate the financing difficulties of small and micro enterprises and private enterprises?

A: the increase in the financial resources of the financial institutions will be increased. The big banks should focus on the service of the sinking, and the small and medium-sized banks should focus more on the main responsibility. In this comprehensive reduction, only a small number of city commercial banks, rural commercial banks, rural cooperative banks, rural credit cooperatives, village banks and other small and medium-sized banks operating in the provincial administrative region have obtained a long-term capital of about 120000000000 Yuan, which is conducive to enhancing the financial strength of small and medium-sized banks, small and micro enterprises and private enterprises based on the local and returning to their original sources. At the same time, the reduction of the bank's capital cost will cost about 15 billion yuan a year, which can reduce the actual cost of social financing, especially reduce the financing costs of small and micro enterprises and private enterprises.

3, does it mean that the orientation of prudent monetary policy has changed?

A: the reduction of the right amount of money will be a hedge against the cash flow before the Spring Festival. The total liquidity of the banking system will remain basically stable and remain flexible and moderate. This is not a flood of flooding. It reflects the scientific and prudent grasp of the anti cyclical adjustment of monetary policy, and the steady monetary policy orientation has not changed.

The central bank issued the "gift package" to ease the financial pressure on the textile industry chain in the first year of the year.

This will greatly increase market liquidity and form a positive impact on the textile market. In 2019, many enterprises lost a lot of money, went bankrupt, stopped production and halve production. In particular, textile, clothing, steel, chemical and other entities are generally facing difficulties in capital turnover. And the central bank will drop all the funds in real time, releasing 800 billion yuan of long-term funds will alleviate the problem of "hard loans and expensive loans".

Secondly, Sino US trade friction has become a "thorn" in the minds of textile foreign trade enterprises. Although last December 13th, Sino US trade seemed to usher in a substantive breakthrough: on the basis of equality and mutual respect, the two sides reached a conclusion on the first stage economic and trade agreement between China and the United States. However, many textile personages still reflected that they had had a hard time in 2019. Affected by the uncertainty of Sino US trade relations, their share in the US market shrinks sharply, and the other side is cautious. Some of the original orders not only disappear directly, but also are temporarily cancelled, causing some losses to the enterprises. The central bank will not only release liquidity, but also give the company the confidence and confidence to fight against external risks.

Near the end of the year, textile and garment enterprises are mainly to reduce inventory and return capital. The central bank will release liquidity to facilitate cash flow supplement. Professionals analyze January 24, 2020 as the Lunar New Year's Eve and the Spring Festival of January 25th. Due to the credit and wages and bonus payments, the scale of cash in the banking system before the Spring Festival will be very large.

On the whole, the central bank's latest fall is the first positive news for the textile industry in 2020. Its comprehensive consideration of various factors is conducive to maintaining the basic stability of interbank liquidity, maintaining a reasonable and abundant liquidity, and reducing the cost of social financing, alleviating the financing difficulties of small and micro enterprises and private enterprises, reflecting the scientific and steady grasp of the anti cyclical adjustment of monetary policy.