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Rare 'Negative Growth' in Credit Under Social Financing: Will Moderate and Low Credit Growth Become the New Normal?
Golden Ten Data reported on August 14 that the performance of credit rise in July was still weak, triggering market follow. Renminbi loans of the social financing caliber were one of the main drags, with an increase of -76.7 billion yuan, the first negative rise since July 2005. Some analysts explained to reporters that the small credit increment in July is in line with the traditional law, and there are still some financial institutions with "impulse" in June, which further leads to a small credit increment in July. Medium and low credit growth will become the new normal. Li Chao, chief economist of Zheshang Securities, said that in the medium and long term, the gradual slowdown in credit growth corresponds to the transformation and upgrading of the economic structure, which makes the credit demand "shift" and a benign alternative to direct financing. In the process of revitalizing the stock of funds and increasing and decreasing the increment, in the future, it is reasonable to evaluate the effectiveness of financial support to reduce the Intrerest Rate, as well as the intensity of financial support in key areas such as scientific and technological innovation, green development, and micro, small and medium-sized enterprises.