February new RMB loans 726.6 billion significantly below market expectations

The central bank announced in February financial statistics and social increment financing statistics play baby cooking games yesterday evening. After a January day the amount of new credit growth, credit data in February but experienced a "roller coaster", the new RMB loans significantly below market expectations. Data show that in February RMB loans increased by 726.6 billion yuan, compared with 2.51 trillion yuan substantially reduced in January; broad money (M2) growth in the previous month reduced by 0.7 percentage points, reaching 13.3%. However, although the new RMB loans fell sharply in February compared with January, but the main reason is the January credit impulse "good start" phenomenon obviously, high credit growth in itself is not of a continuing nature, the industry had generally considered to February new credit will be down significantly, the market is expected before February new credit will be around 1 trillion. CICC analysts said in banks' bad assets gradually exposed, banks and gradually narrow the difference between interest-bearing assets and liabilities of the environment, the bank's net profit growth may be negative, if the banks do not want to see net profit growth difficult, each must try kinds of ways to improve profitability. Thus, in January dazzling data, mainly due to commercial bank credit to benefit from early morning serving pulling strategies and government infrastructure projects. Chinese central bank governor Zhou Xiaochuan on the end of February news conference, also said some of the data is actually relatively high in January, but the central bank generally does not make the January data overreact, mainly on account of the traditional Chinese New Year factor. The central bank tends to moderate for some time to stabilize after the holiday guide, will attach great importance to changes in aggregate demand control and leverage. In addition, many banking sources, the credit growth momentum and a half months before February is actually still very fierce, but then triggered the emergency window guidance of the central bank, in a timely manner to control the rapid growth of bank credit situation, this makes a whole new February increase the size of credit appears to be more reasonable. However, Ping, deputy general manager of fixed income securities Shi Lei believes that although the new credit in February dropped significantly, but the overall scale is still impressive. Especially sub-structure, the increase in February is still a lot of long-term loans, the central bank's emergency window guidance, the effect is only short-term loans makes banks compression. Minsheng Securities Research Institute analyst Li Qilin, also said in February credit data is not as poor as it seems, because the credit structure is good, especially the play baby Dora Games long-term loans accounted for not weak. In the real economy, low rate of return and risk premia in the background, mainly in credit UDIC and personal housing mortgage loans, which is related to weak growth and steady improvement in real estate sales. Data show that the month loans to the household sector to reduce the 6.5 billion yuan, of which short-term loans decreased by 188.5 billion yuan, long-term loans increased by 182 billion yuan; non-financial corporations and government agencies and organizations loans increased by 810.7 billion yuan, of which short-term loans increased by 332.6 billion yuan, long-term loans increased by 502.2 billion yuan, 58.3 billion yuan bills financing decreased. With the February new credit significantly reduced, the month increment financing social scale compared with January down nearly eight percent. Li Qilin said sharply reduce social increment financing and off-balance sheet financing atrophy, sub-term, trust loans, entrusted loans, bankers' acceptances undiscounted three month cumulative reduction of 174.9 billion yuan in the financing needs of the real economy is not strong, regulators strict control of non-standard sector financing and other factors, the shrink-sheet financing continue to drag on social increment financing. Frozen Games - Juegos de Frozen - Jogos de Frozen - Permainan Frozen - Игры Холодное сердце
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