Lates News

Chief economist and dean of the research institute of China Minsheng Bank, Wen Bin, pointed out that based on recent data, several indicators since July show that there have been certain setbacks in the recovery of the real economy. The growth rate of social zero has fallen, real estate investment is still under pressure, credit demand needs to increase, and uncertainties and risks in external demand have not completely cleared, indicating that there is still a need for macro-policy to remain accommodative to some extent. In the second half of the year, stabilizing credit, promoting domestic demand, and strengthening coordination will still require a consistent policy, and a stable monetary policy will continue to be supportive. Wen Bin also stated that considering the effectiveness of the personal consumption loan and the interest subsidy policy for service industry borrowers in reducing the cost of entity financing, structural policies are more precise and can avoid idle funds, accelerate the activation of deposits, and trend towards moderate price increases. The timing of another reserve requirement ratio cut and interest rate cut later in the year may be pushed back, and the timing of LPR quotation adjustments may also be delayed accordingly.