Zhou Xiaochuan and other financial hot issues

The four session of the twelve National People’s Congress

12 media center in Beijing held a press conference, the people’s Bank of Chinese governor Zhou Xiaochuan, deputy governor Yi Gang, Pan Gongsheng, Fan Yifei and so on "whether the monetary policy adjustment" and "how to treat the down payment loan" Internet financial supervision "and other hot issues answered questions from reporters.

will not rely on monetary policy to achieve economic growth

for monetary policy will not turn loose, Zhou Xiaochuan said, Chinese will rely more on domestic demand rather than exports to achieve GDP growth, so it does not rely on monetary and exchange rate policies to achieve the goal of economic growth.

from the perspective of the people’s Bank of China, economic growth is largely related to the savings rate." Zhou Xiaochuan said, China will not rely on exports to achieve GDP growth, the contribution of net exports in GDP growth is no longer as big as before. In this case, the use of monetary and exchange rate policy to stimulate exports, to achieve growth targets can play a role is not large."

Zhou Xiaochuan made it clear that if there is no big domestic and international economic and financial turmoil, China will maintain a relatively stable monetary policy, will not use excessive monetary stimulus to achieve growth targets. "If there are any major events in the world or in China, monetary policy should be flexible and respond to various shocks and events."

mortgage policy due to the implementation of policy

on the mortgage policy, Zhou Xiaochuan said, housing finance policy should consider the total, the average national real estate market is still facing greater pressure to the stock last year, inventory growth of more than 15% over the previous year; we should also take into account the current domestic price big differentiation, a second tier cities in the housing prices rose more fierce caused concern.

Zhou Xiaochuan stressed that the commercial bank credit policy should adapt to the changes in different places, considering the feasibility and risk of housing credit.

Pan Gongsheng, the current commercial bank Chinese real estate loans, individual housing loans accounted for the proportion of total loans is about 14%, the proportion of non-performing loans is 0.38% lower than that of the entire banking industry, about 1.7% of the proportion of non-performing loans. From the down payment ratio, even after adjustment in accordance with the 20% minimum down payment ratio, and the international comparison of horizontal comparison is also more cautious. January first suite down payment is generally more than 35%, the actual payment of the two suites than in more than 40%.

Pan Gongsheng said that the current total excess real estate market in China, regional differentiation. Currently 720 million square meters of housing inventory, the distribution of the city in the three or four line, the housing credit policy and the national real estate situation must match the situation of the 70%. The central bank will be due to the implementation of policies, such as last year, Beijing, Shanghai, a number of front-line cities must implement the original policy; strengthen market discipline, independent decision-making by commercial banks; housing finance to take macro Prudential management.

"we don’t have to rush to buy dollars"

in response to "everyone;

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