央行官宣：结构性降息落地，万亿再贷款力挺民企

Group 1 - The central bank has announced a reduction in structural monetary policy rates by 0.25 percentage points, following a previous cut in May 2025, to stimulate credit flow to key sectors [1] - The one-year interest rate for various structural monetary policy tools has been lowered from 1.5% to 1.25%, which will reduce the cost for banks to obtain refinancing from the central bank [1] - This rate cut is expected to encourage banks to offer loans at lower rates to small and micro enterprises, technological innovation, and green transformation, thereby reducing the overall financing costs for the real economy [1] Group 2 - The targeted nature of the structural policy tool rate cut is designed to enhance the efficiency of fund utilization and improve financial services for the real economy [2] - The policy signals a strong commitment from the government to support specific industries such as technology, consumption, and elderly care, which is anticipated to boost confidence among business entities and stabilize market expectations [2] - The central bank plans to enhance support for structural tools, including increasing the quota for agricultural and small enterprise refinancing by 500 billion yuan and establishing a separate refinancing quota of 1 trillion yuan for private enterprises [2] Group 3 - The refinancing quota for technological innovation and technical transformation has been increased from 800 billion yuan to 1.2 trillion yuan, expanding the support to high R&D investment private small and medium enterprises [2] - The central bank aims to streamline the management of existing bond financing support tools for private enterprises and technological innovation, providing a combined refinancing quota of 200 billion yuan [2] - Future monetary policy will focus on effectively balancing short-term and long-term goals, growth stability, and risk prevention, while directing financial resources towards technological innovation, green development, and consumption [3]