王青：预计下半年央行还会继续实施降息 金十数据5月21日讯，展望后期，东方金诚首席宏观分析师王青表示，当前外部环境仍面临很大不确定 性，国内稳增长政策还不能松劲。预计下半年央行还会继续实施降息，这意味着年内两个期限品种的 LPR还有下行空间。在王青看来，下调政策利率并引导LPR下行，将带动企业和居民贷款利率更大幅度 下调，降低实体经济融资成本，这是现阶段扩投资、促消费的一个重要发力点，也有助于缓解计入物价 因素后，当前企业和居民实际贷款利率偏高现象，激发企业和居民内生融资需求。 （证券日报） ...

Group 1 - The core viewpoint of the articles is that the recent reduction in the Loan Prime Rate (LPR) and deposit rates will lower financing costs for businesses and residents, thereby boosting market confidence and supporting stable growth in the real economy [1][2][5] - The LPR has decreased for the first time in seven months, signaling a positive move towards reducing corporate financing costs and easing the burden on residents [3][5] - The simultaneous decline in LPR and deposit rates reflects the effective functioning of the market-based adjustment mechanism, enhancing banks' ability to price loans competitively [4][5] Group 2 - The reduction in LPR is expected to stimulate effective financing demand from both enterprises and residents, which is crucial for expanding investment and consumption [2][3] - Lower deposit rates will help banks maintain a reasonable net interest margin, which is essential for sustaining their ability to support the real economy [4][5] - Investors are encouraged to optimize their asset allocation in response to declining deposit rates, with a focus on diversifying investments across various asset classes [6][7]

Group 1 - The People's Bank of China announced a decrease in the Loan Prime Rate (LPR) by 10 basis points for both the 1-year and 5-year terms, bringing them to 3.0% and 3.5% respectively, signaling a policy aimed at stabilizing growth and promoting development [1] - The reduction in LPR is expected to lower the overall financing costs in the market, stimulate credit demand, and encourage corporate investment, thereby enhancing financial support for the real economy [1] - The decrease in the 5-year LPR will alleviate the interest burden for mortgage borrowers, potentially saving them over 500 yuan monthly on a 1 million yuan mortgage over 30 years, totaling nearly 20,000 yuan in interest savings [1] Group 2 - In March, the average new mortgage rate was 3.13%, down 0.56 percentage points year-on-year, indicating a historical low and further easing the interest burden on existing mortgage borrowers [2] - The simultaneous decrease in LPR and deposit rates reflects the effective functioning of the market-oriented adjustment mechanism for deposit rates, enhancing the pricing capabilities of commercial banks [2] - The reduction in deposit rates is a strategic move by banks based on market interest trends and supply-demand dynamics, aimed at improving financial services for the real economy and supporting economic recovery [2]

Group 1 - The State Council Information Office will hold a press conference on May 22 to discuss technology finance policies, featuring officials from the Ministry of Science and Technology, the People's Bank of China, and financial regulatory authorities [1] - The central bank's governor emphasized the need for financial support for key areas such as technological innovation, consumption, small and micro enterprises, and stabilizing foreign trade [2] - A new directive aims for 850 million active IPv6 users and 1.1 billion IoT IPv6 connections by the end of 2025, with fixed network IPv6 traffic accounting for 27% and mobile network IPv6 traffic for 70% [3] Group 2 - Several banks have recently lowered interest rates on fixed-term deposits and large-denomination certificates of deposit, with large-denomination products expected to enter the "1 era" [4] - Zongyi Co., Ltd. is in the preliminary planning stage for a major asset restructuring [5] - Shareholder Runke Xin of Ruixin Micro plans to reduce its stake by no more than 2% [5] - Baili Electric's revenue from nuclear fusion-related business is minimal, projected to account for less than 1% of total revenue in 2024 [5] - Baobian Electric's stock has seen significant short-term gains, leading to high price-to-earnings and price-to-book ratios [5] - Suzhou Longjie has reported price increases for some new and hot-selling products [5]

新华财经北京5月20日电（幸骊莎）人民银行20日开展3570亿元7天期逆回购操作，操作利率为1.40%，与此前持平；鉴于当日有1800亿元逆回购到期，公开 市场实现净投放1770亿元。 上海银行间同业拆放利率（Shibor）各品种利率均有小幅下跌。具体来看，隔夜Shibor下跌2.80BP，报1.5090%；7天Shibor下跌0.60BP，报1.5560%；14天 Shibor下跌0.40BP，报1.6500%。 上海银行间同业拆放利率（5月20日） | | | | 2025-05-20 11:00 | | --- | --- | --- | --- | | | 期限 | Shibor(%) | 涨跌(BP) | | 中 | O/N | 1.5090 | 2.80 | | t | 1W | 1.5560 | 0.60 | | 企 | 2W | 1.6500 | 0.40 | | � | 1M | 1.6170 | 0.70 | | 1 | 3M | 1.6420 | 0.30 | | 中 | 6M | 1.6540 | 0.20 | | 中 | 9M | 1.6650 | 0.40 | | | 1Y | 1 ...

中国人民银行行长潘功胜主持召开金融支持实体经济座谈会 百万用户都在看 美国调整对华加征关税！ 利好突袭！外资，重大转变！ 为贯彻落实党中央、国务院决策部署，推动一揽子货币金融政策落地见效，支持经济持续回升向好，5月19 日，中国人民银行行长潘功胜主持召开金融支持实体经济座谈会并讲话。金融监管总局副局长周亮出席会议并 讲话。中国人民银行副行长宣昌能、邹澜出席会议。 会议指出，4月25日中央政治局会议分析研究当前经济形势，对下一步经济工作作出重要部署。金融系统要提 高政治站位，切实把思想和行动统一到党中央决策部署上来，着力稳就业、稳企业、稳市场、稳预期，抓好一 揽子货币金融政策措施的落实和传导，以高质量发展的确定性应对外部环境急剧变化的不确定性。 会议强调，要实施好适度宽松的货币政策，满足实体经济有效融资需求，保持金融总量合理增长。加力支持科 技创新、提振消费、民营小微、稳定外贸等重点领域，用好用足存量和增量政策，提高金融支持实体经济质 效，支持经济结构调整、转型升级和新旧动能转换。强化货币政策执行和传导，维护市场竞争公平秩序，推动 金融服务实体经济和银行自身可持续发展的有机统一。有序推进人民币国际使用，提高贸易 ...

Core Viewpoint - The meeting emphasized the need for the financial system to align with the central government's decisions to stabilize employment, businesses, markets, and expectations, while effectively implementing monetary policies to address external uncertainties [1] Group 1: Monetary Policy - The meeting highlighted the importance of implementing a moderately loose monetary policy to meet the effective financing needs of the real economy [1] - It was stated that maintaining reasonable growth in the total financial volume is crucial [1] Group 2: Support for Key Areas - Increased support for key areas such as technological innovation, consumption, small and micro enterprises, and stabilizing foreign trade was emphasized [1] - The meeting called for effective utilization of both existing and new policies to enhance the quality and efficiency of financial support for the real economy [1] Group 3: Economic Transition - The focus was placed on supporting economic structural adjustments, transformation upgrades, and the conversion of old and new driving forces [1]

作 者丨唐婧 林秋彤 见习记者李益文 编 辑丨包芳鸣 江佩佩 5月2 0日，最新贷款市场报价利率（LPR）报价出炉。其中，1年期LPR为3%，5年期以上LPR为3 . 5%，均较此前下降1 0个基 点。如以商贷额度1 0 0万元、贷款3 0年、等额本息还款方式计算， 此次LPR下降1 0个基点，月供将减少5 6元，3 0年月供累积 减少2万元 。 民生银行首席经济学家温彬指出，今日（5月2 0日）大行和股份行牵头开启第七轮存款挂牌利率下调， 且本次存款利率下调幅 度大于LPR降幅 。东方金诚宏观团队研究指出， 下调政策利率并引导LPR下行，将带动企业和居民贷款利率更大幅度下调， 降低实体经济融资成本，这是现阶段扩投资、促消费的一个重要发力点。 第七轮存款挂牌利率下调，最大降幅2 5个基点 5月2 0日， 国有大行和头部股份行牵头开启2 0 2 2年9月以来第七轮存款挂牌利率下调。 其中，活期存款利率下调5个基点；定 期整存整取三个月期、半年期、一年期、二年期均下调1 5个基点，三年期和五年期均下调2 5个基点；协定存款利率下调1 0个 基点；7天期通知存款利率下调1 5个基点。 利率调整后， 一年整存整取存款 ...

本报记者 谭志娟 北京报道 在业界看来，继续引导贷款利率下行，还有助于稳定有效融资需求。 5月20日，中国人民银行授权全国银行间同业拆借中心公布，当日贷款市场报价利率（LPR）为：一年 期LPR为3.0%，五年期以上LPR为3.5%，均下调了10个基点。这是继去年10月下调之后，再度调降。 受访业界专家认为，本月LPR报价下调源于，5月7日，金融监管部门在国新办发布会上发布"一揽子金 融政策支持稳市场稳预期"时，明确下调政策利率0.1个百分点，这意味着5月LPR报价的定价基础发生 改变。当月LPR同步下行，也显示政策利率调整开始向贷款市场利率传导。 下调政策利率并引导LPR下行，将带动企业和居民贷款利率更大幅度下调，降低实体经济融资成本，这 是现阶段扩投资、促消费的一个重要发力点。 有助夯实房地产止跌回稳 对于本月LPR报价下调，东方金诚首席宏观分析师王青对《中国经营报》记者分析称，根本原因是由于 4月美国关税问题令外部环境发生急剧变化。这意味着当前宏观政策需要加大逆周期调节力度，通过扩 大内需对冲外需放缓，稳定经济运行。 王青还指出，考虑到稳楼市政策需要进一步加力，特别是5月7日央行宣布下调公积金贷款利率0 ...

Core Insights - The recent simultaneous reduction in both LPR and deposit rates is a rare occurrence, indicating a significant monetary policy shift aimed at stimulating the economy [1][2] - The 1-year LPR is now at 3%, and the 5-year LPR is at 3.5%, both down by 10 basis points from the previous month, marking the first adjustment after six months of stability [2][4] - The reduction in LPR is expected to lower financing costs for the real economy, encouraging businesses to expand production and investment [4][5] Summary by Sections LPR Adjustment - The LPR has been adjusted downwards for the first time this year, with a 10 basis point decrease for both the 1-year and 5-year rates [2] - This adjustment aligns with the central bank's earlier announcement to lower key policy rates, indicating a coordinated effort to reduce borrowing costs [2][4] Impact on the Economy - The LPR reduction is anticipated to ease the interest burden on the real economy, providing businesses with more financial flexibility [5] - The average interest rate for newly issued corporate loans was approximately 3.2% in April, down 4 basis points from the previous month and 50 basis points year-on-year [4] Real Estate Market Effects - The decrease in the 5-year LPR is expected to significantly impact the housing market, potentially bringing first-time mortgage rates into the "2% range" [5] - For a 1 million yuan mortgage over 30 years, the monthly payment could decrease by about 55 yuan, leading to a total interest savings of nearly 20,000 yuan [5] Broader Market Implications - The simultaneous reduction in deposit rates, with 1-year fixed deposit rates now below 1%, is expected to alleviate pressure on bank margins [6] - Analysts predict that the LPR cut will stabilize the economic fundamentals and may lead to a recovery in asset valuations, particularly in infrastructure and consumer sectors [7]