Recently, the policy development financial tools are accelerating landing. New Beijing News shell financial reporter noted that since the State Council executive meeting to determine the policy developmental financial instruments to support the construction of major projects, the banking industry has continued to increase the support of the key areas of infrastructure projects in various regions, and actively help stabilize the macro-economic plate, for the field of infrastructure investment to inject financial live water.
At the end of September, the relevant departments of the Banking and Insurance Commission said that the early stage has been implemented to the project of policy development financial instruments put amounted to 300 billion yuan, the project plans to invest a total of more than 3 trillion, mainly invested in transportation, rural agriculture, energy and water conservancy and other areas of infrastructure construction. In addition, the second batch of 300 billion has been basically put in September. According to the official website of China Development Bank and Agricultural Development Bank of China, as of September 20, the second phase of the two funds have been completed to put 150 billion, 100 billion respectively.
Banking industry force infrastructure construction supporting financing successive landing
June 29, the National Ordinary Session, the People's Bank of China to support the State Development Bank, Agricultural Development Bank, respectively, set up a financial instrument, the scale of ***300 billion yuan, used to replenish the capital required for the major projects, to guide the financial institutions to increase the supporting financing support.
Based on this, the policy development financial instruments ushered in a further expansion. on August 24, the National Regular Session again proposed to increase the amount of policy development financial instruments of more than 300 billion yuan, that is, the scale of infrastructure investment fund to reach more than 600 billion.
Along with the policy development financial instruments landing, financial water accelerated into the field of infrastructure investment. From policy development banks to commercial banks, credit investment in infrastructure construction and major projects are continuing to increase, and commercial banks have also landed supporting financing.
Shell financial reporter learned that on July 31, Agricultural Bank of China (601288) in the State Development Infrastructure Fund 138 million yuan of capital investment in place in the first time to complete the Sudai high-speed project 132 million yuan of loan placement, the realization of the country's first commercial banks infrastructure fund project supporting financing.
State-owned banks, the Construction Bank (601939) comprehensively promote the infrastructure fund project financing, focusing on transportation, water conservancy, energy, municipal and other key areas, two batches of infrastructure fund credit totaling 281.6 billion yuan, to ensure that the fund project financing effectively.
In addition, Everbright Bank (601818) has also put seven "national infrastructure fund major projects" supporting financing. Up to now, the amount of investment amounted to 178 million yuan, has been approved for 17 projects credit, a total amount of more than 10 billion yuan.
Policy Precision Force Infrastructure Investment Growth Rate Continues to Accelerate During the Year
National Bureau of Statistics data show that since the beginning of this year, the number of infrastructure investment projects has increased significantly. With the gradual availability of special bonds and other construction funds, infrastructure projects have started one after another, and the investment progress has been accelerating.From January to August, the number of new infrastructure projects reached 52,000, an increase of 12,000 compared with the same period last year, and an increase of 7,896 compared with January-July.
Meanwhile, the growth rate of infrastructure investment has continued to accelerate. from January to August, the total planned investment in new infrastructure investment projects increased by 16.6% year-on-year, of which the total planned investment in new projects of 100 million yuan and above increased by 18.8% year-on-year. In terms of infrastructure investment, infrastructure investment in January-August increased by 8.3% year-on-year, with the growth rate picking up for four consecutive months, and the leveraging effect of special bonds and policy development financial instruments gradually appeared.
National Bureau of Statistics spokesman Fu Linghui said on September 16 at the State Council press conference, preliminary statistics, has been implemented to the project in the early stages of the policy development financial instruments to put the amount of 300 billion yuan to support the investment project more than 900, the project plans to invest a total of more than 3 trillion yuan, the role of investment leverage is more obvious. Overall, the State Council introduced additional policy development financial instruments amount and special debt policy directly into the field of infrastructure, reflecting the policy precision force, pay more attention to transportation, water conservancy, medical care, education and other infrastructure high-quality planning and construction and people's livelihoods to make up for the shortcomings of the board, is conducive to the steady growth of infrastructure investment.
Policy financial instruments in the fourth quarter support role will further appear
In the third quarter of the regular meeting, the central bank said it will maintain a reasonable abundance of liquidity, enhance the stability of the growth of total credit, to maintain the growth of the money supply and the scale of social financing with the growth rate of the nominal economic growth rate of the basic match.
And for the use of structural tools, compared with the second quarter to increase the "good use of policy development financial tools, focusing on supporting infrastructure construction" statement, and put this in the forefront. At the same time also added "to strengthen the key areas, weak links and affected by the epidemic industry support, support financial institutions to issue manufacturing and other key areas of equipment upgrading and reconstruction loans" and other content.
Zhou Maohua, a macro researcher at the Financial Markets Department of China Everbright Bank, said that a moderate increase in infrastructure investment will help expand effective investment, and at the same time, large infrastructure projects with a long industrial chain will help drive employment and promote the release of the comprehensive effect of consumption.
Tan Yiming, chief fixed income analyst at Minsheng Securities, pointed out in a research report that, combined with the actual placement of the situation as well as the policy statement, it is expected that the two batches of 300 billion yuan of policy financial instruments *** can pry 3 trillion yuan of total investment scale, if the project start in three years, and taking into account the two batches of policy financial instruments landing time and rhythm, corresponding to the scale of the infrastructure start this year is about 0.75 trillion yuan. Trillion dollars or so. From the rhythm, taking into account the current policy financial instruments are speeding up the implementation and the formation of physical workload, infrastructure investment in the third quarter will be supported to a certain extent, in the fourth quarter of the support role is further apparent, can maintain the infrastructure in the year at a higher level of growth.
Li Qilin, director of the Hongta Securities Research Institute, also pointed out in the research report, the future financing needs of the entity may still rely on infrastructure projects to drive. At present, the second batch of 300 billion yuan quota can be used to supplement the project capital policy financial instruments to be issued, 500 billion yuan of special debt limit to be issued by the end of October, the continued availability of financial resources can effectively promote the progress of infrastructure projects. At the same time, with the high temperature and power limitations on the construction of the interference weakened as well as policy pressures around the government and financial institutions to focus on promoting stable growth, the process of infrastructure projects will be rapidly promoted, and then pry more social financing.