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财政货币政策加码预期升温 用好结构性工具和债券渠道
Xin Hua Wang· 2025-08-12 06:25
Group 1: Monetary Policy Insights - The central bank is expected to continue using targeted structural monetary policy tools to support enterprises affected by the pandemic, with a focus on increasing loan support for private enterprises to restore effective financing demand and assist in reshaping the industrial chain [2][3] - The possibility of lowering the Loan Prime Rate (LPR) is anticipated, as it would have a significant impact on stabilizing housing loans and expectations, especially given the current weak credit structure [3] - The monetary policy will also focus on stabilizing employment, prices, and promoting domestic demand while mitigating risks, which requires support for struggling industries and enhancing effective investment [3] Group 2: Fiscal Policy Developments - Fiscal policy is expected to continue to be strengthened in the second half of the year, with the issuance of special bonds reaching 34,062 billion yuan in the first half, completing 98.7% of the allocated quota [4] - There is potential for increasing the issuance of special bonds or advancing the issuance of next year's special bonds to address economic pressures [4][5] - The use of special bonds is anticipated to accelerate, with expectations for infrastructure investment and tax reductions to alleviate fiscal pressure [5][6]