On July 27, the relevant person in charge of the business management department of the people's Bank of China said at the 2022 news conference on financial assistance to enterprises and high-quality development of the capital that since this year, the business management department of the people's Bank of China has resolutely implemented the decisions and arrangements of the CPC Central Committee and the State Council, earnestly implemented the work requirements of the people's Bank of China, the Beijing Municipal Party committee and the Beijing Municipal Government on financial assistance to enterprises, and adhered to the principle of stability and seeking progress in stability, We should give full play to the dual functions of monetary policy instruments in terms of total amount and structure, continue to guide financial institutions to enhance the stability of total credit growth, and go all out to increase support for the real economy, so as to provide strong support for stabilizing the overall economic market. In the first half of this year, financial statistics showed that the current financial support for the real economy continued to increase, the credit structure was further optimized, the comprehensive financing cost of enterprises fell steadily, and the quality and efficiency of financial services to the real economy were improved. Zhou Dan, director of the investigation and Statistics Division of the business management department of the people's Bank of China, said that in the first half of the year, RMB loans in Beijing increased by 754.06 billion yuan, an increase of 286.97 billion yuan over the same period last year; The scale of social financing increased by 1172.78 billion yuan, an increase of 383.73 billion yuan over the same period last year, all hitting a record high in the same period. At the same time, the credit structure was further optimized. At the end of June, the balance of medium - and long-term loans invested in manufacturing increased by 35.6% year-on-year, 26.4 percentage points higher than the growth rate of various loans; The balance of Pratt & Whitney small and micro loans increased by 21.3% year-on-year, 12.1 percentage points higher than the growth rate of various loans. The number of inclusive small and micro credit households in Beijing was 1.006 million, breaking through one million for the first time, with a year-on-year increase of 35.3%. It is worth mentioning that since the LPR reform, the general loan interest rate of financial institutions, enterprise loan interest rate and inclusive small and micro loan interest rate within the jurisdiction of Beijing have shown an overall downward trend, all hitting new lows since statistics. Yu Jian, director of the money and credit management division of the business management department of the people's Bank of China, said that in June, the weighted average interest rate of general loans was 3.79%, 119 basis points lower than that before the LPR reform; The weighted average loan interest rate of enterprise loans was 3.36% (80 basis points lower than that of the whole country), 121 basis points lower than that before the LPR reform; The weighted average interest rate of Pratt Whitney small and micro loans was 4.52%, 158 basis points lower than that before LPR reform. This year, the people's Bank of China successively converted two direct tools into inclusive small and micro enterprise loan support tools, directly gave financial incentives to the net increase of inclusive small and micro enterprise loans of local corporate banks, and guided banks to increase credit to small and micro enterprises and other troubled market entities. Yu Jian said, "in the first half of the year, the business management department of the people's Bank of China provided nearly 500million yuan of incentive funds to local corporate banks such as Bank of Beijing through the inclusive small and micro enterprise loan support tool, leveraging the balance of inclusive small and micro loans of relevant banks to increase by 37.5 billion yuan over the beginning of the year, an increase of 34% year-on-year, about 13 percentage points higher than the average growth rate of inclusive small and micro loans of all banks in Beijing." Yu Jian said that in the next step, the business management department of the people's Bank of China will work with relevant departments and financial institutions under its jurisdiction to continue to make sufficient efforts to contribute greater financial strength to the steady economic growth of the capital, focusing on three aspects. First, we should give full play to the dual functions of monetary policy tools in terms of total amount and structure. In terms of total amount, we will strive to release no less than 150billion yuan of policy funds from the central bank throughout the year, and help financial institutions increase their support for the real economy. In terms of structure, we will further increase the use of policy tools in the fields of microenterprises, science and technology, green, culture, rural revitalization, and guide financial institutions to continue to optimize the credit structure and reduce the financing costs of enterprises. Secondly, we should strengthen policy guidance for financial institutions and promote the steady growth of credit scale. Thirdly, strengthen the coordination of finance, finance and industrial policies. (Xinhua News Agency)