Credit target geometry

 2011 goal of the credit money into what is? This is the media continue to explore the issue recently.

people are keen to talk about the subject, nature, and in recent years, put on a lot of credit funds. In fact, in the past for a long period of time, how much credit each year seems to have been forgotten. However, new RMB loans in 2009 reached 9.6 trillion yuan of the giant, the media began to focus on how to set goals each year of credit, specifically how to operate, and ultimately how much.

, of course, credit the rhythm, volume, flow, and is closely related to the operation of the entire economy, but also an important reference for people to invest in behavior, attention to the trend of the natural requirements of a market economy . But the market should be clear, setting goals is an expectation of credit, loans for commercial banks is not only the number of market behavior, but also need to consider the overall trend of economic growth and inflation, such as a combination of factors.

Here, we might recall the end of 1997 introduced a major reform initiatives. This year, December 24, the PBC issued for the guidance program, the proportion of assets and liabilities in the progressive implementation of management and risk management, based on the implementation of

If people are not forgetful, this reform effectively abolished the Target regulation of the road. In this new financial macro-control mode, the commercial banks as the financial capacity, in accordance with the principles and the national credit policies, independent review and issuance of loans. Over the years the practice has proven that, in this management system, the behavior of commercial bank credit continued to move closer to the market, social and economic development to meet the demand for funds made many achievements.

We recall the past this process, is not to We want to remind people that can not be released because of credit funds was massive to easily go back to the idea of the past. After all, money supply control by means of market lot, and if so rely more on administrative measures to limit credit lines, it is difficult to get rid of

So, how to set a reasonable credit scale it? Increasing growth in the capital markets and the increased proportion of direct financing today, social financing bank credit is only an important part of the total. From this perspective, bank credit growth to achieve social and economic development with the main objective is consistent, in particular, to consider the economic growth target and inflation control target, a reasonable moderate forward speed.

Therefore, we believe that its target interest credit lines, as more attention to a variety of conventional and unconventional monetary policy tools, both use more attention to the use of market means to make money and credit and adjust the total amount of liquidity management, more respect for the autonomy of commercial banks behavior. Only this, credit to avoid big ups and downs.