CCTV News: The State Administration for Financial Supervision and Administration issued a notice on March 14, proposing specific measures to optimize consumer finance policies to help boost consumption. It includes requiring financial institutions to tailor financial products to new consumption scenarios such as digital, green, and intelligence; increasing credit supply to consumer service industries such as cultural tourism, healthy and elderly care; increasing the investment in personal consumption loans; and optimizing consumer finance supply.
The total financial volume continues to maintain reasonable growth, and many indicators are better than expected
On March 14, the People's Bank of China released its February financial data and social financing scale report. The total financial volume continues to maintain reasonable growth, and many indicators are better than market expectations, reflecting a moderately loose monetary policy orientation.
From the perspective of money supply, at the end of February, the balance of broad money (M2) was 320.52 trillion yuan, an increase of 7% year-on-year. Judging from the credit supply, at the end of February, the balance of RMB loans was 261.78 trillion yuan, an increase of 7.3% year-on-year. From the perspective of social financing scale, at the end of February, the stock of social financing scale was 417.29 trillion yuan, an increase of 8.2% year-on-year. From the perspective of interest rate levels, the weighted average interest rate of newly issued loans (domestic and foreign currencies) of enterprises in February was about 3.3%, about 40 basis points lower than the same period last year; the weighted average interest rate of newly issued loans (domestic and foreign currencies) of individual housing was about 3.1%, about 70 basis points lower than the same period last year. From the perspective of credit structure, the balance of inclusive small and micro loans was 33.43 trillion yuan, an increase of 12.4% year-on-year, and the balance of medium- and long-term loans in manufacturing was 14.48 trillion yuan, an increase of 10.3% year-on-year, both higher than the growth rate of various loans during the same period.
The pilot program of integrated domestic and foreign currency funds for multinational corporations continues to expand
The People's Bank of China and the State Administration of Foreign Exchange issued a notice on the 13th, deciding to further expand the pilot program of integrated domestic and foreign currency funds for multinational corporations in provinces such as Tianjin, Hebei, Inner Mongolia, Heilongjiang, etc. to facilitate the coordinated use of cross-border funds for multinational corporations. The People's Bank of China said that in the next step, we will step up efforts to promote institutional opening up in the foreign exchange field, accelerate the quality and expansion of cross-border fund management policies for multinational companies, and continuously improve the level of cross-border trade and investment and financing facilitation.
Multiple departments work together to promote the facilitation of customs clearance at aviation ports
The General Administration of Customs, the State Immigration Administration, the Civil Aviation Administration of China and other departments jointly issued several measures to further promote the facilitation of customs clearance at aviation ports on March 13. The "Several Measures" focus on further improving the efficiency of air cargo customs clearance and continue to promote telecommunications quarantine for international flights. The "Several Measures" also focus on the construction of key aviation port hubs, and propose to build a comprehensive, portal-based international aviation hub.
The delivery business volume of China's postal industry exceeded 30 billion pieces in the first two months
The latest data from the State Post Bureau shows that the delivery business volume of the postal industry from January to February reached 31.38 billion pieces, of which the express delivery business volume reached 28.48 billion pieces. In February, the national postal industry's delivery business volume increased by more than 50% year-on-year. At the same time, express delivery companies have added express delivery centers in the western region and used intelligent technology to optimize the transportation process, which directly drove the growth rate of express delivery business volume in Inner Mongolia, Tibet, Xinjiang and other places in the first two months to be higher than the national average of 25%.
The "Spring Employment Promotion Action" for the 2025 college graduates has been launched
The Ministry of Education of China recently launched the "Spring Employment Promotion Action" for the 2025 college graduates. From March to April, universities in various places will organize "Spring Employment Promotion Meeting of Thousand Schools and Ten Thousand Enterprises" and job fairs; launch and implement the "Double Thousand" plan to improve employment capacity of college students, open 1,000 "micro-professions" and 1,000 vocational ability training courses; promote high-quality and full employment of graduates.
The promotion meeting of the 3rd China International Supply Chain Promotion Expo was held in London
The promotion meeting of the 3rd China International Supply Chain Promotion Expo was held in London on the 12th. Representatives from the UK business community highly praised the positive role played by the Chain Expo in maintaining the stability of the global supply chain and enhancing the global productivity level, and expressed that they would actively sign contracts to participate in the exhibition.
Yu Jianlong, Vice President of the China Council for the Promotion of International Trade, said at the promotion meeting that cooperation between China and the UK in the fields of financial services, clean energy, artificial intelligence, etc. is constantly expanding, and new cooperation models and growth points are constantly emerging. In July this year, the third chain fair will be held in Beijing. More British companies are welcome to participate in the exhibition and share cooperation opportunities.
Ku Peiqin, Chairman of the UK-China Trade Association, pointed out that the UK-China Trade Association has achieved remarkable results in organizing British corporate delegations for two consecutive years, fully demonstrating the potential for cooperation between the two countries. Jack Perry, chairman of the 48 British group club, believes that the Chain Expo is quickly becoming the core dialogue platform for global trade and supply chain issues, which will help improve the level of international cooperation.
