Core Viewpoint - Guangdong is positioned as a leading region for technological innovation in China, with a focus on establishing an international technology innovation center in the Guangdong-Hong Kong-Macao Greater Bay Area, emphasizing the importance of a high-quality financial system to support technological innovation [1][2]. Policy Initiatives - The People's Bank of China Guangdong Branch has collaborated with the Guangdong Provincial Science and Technology Department to issue implementation opinions aimed at deepening the integration of technology and finance, focusing on venture capital and various financial support measures [2]. - Specific policies include the "15 Measures for Technology Finance" and the "31 Specific Measures for High-Quality Development of Technology Finance," which aim to enhance financial resource allocation to key areas of technological innovation [2]. Financial Support and Innovation - Guangdong has introduced the first limited recourse supply chain bill discounting business in the country, increasing support for first-time loans to technology SMEs, and establishing three special loan quotas of 100 billion yuan each for various sectors [3]. - By April 2025, 1,585 projects were included in the technology transformation and equipment update list, with signed loan contracts amounting to 177.2 billion yuan and 42.5 billion yuan disbursed [3]. Financing Channels - The Guangdong branch has facilitated the issuance of technology innovation bonds, with a total issuance scale of 4.8 billion yuan from technology enterprises and investment institutions [4]. - Efforts to broaden cross-border financing channels include pilot programs for Qualified Foreign Limited Partners (QFLP) and cross-border capital pools, with 12 fund management companies in Nansha Free Trade Zone obtaining QFLP pilot qualifications, amounting to approximately 28.4 billion yuan in investment [4]. Service Models and Product Innovation - The Guangdong branch has introduced innovative service models such as the "Win-Win Plan for Enterprises" and "Equity Loan Guarantee Lease" to address the financing needs of technology enterprises throughout their lifecycle [5][6]. - New financing products have been developed for different stages of technology enterprises, including "Technology Talent Loans" and "Technology R&D Loans," which consider talent and R&D investment as key credit factors [6]. Future Directions - The Guangdong branch plans to enhance financial support for major national technology tasks and SMEs, focusing on policy tool reinforcement, product and service innovation, and multi-party collaboration to deepen the integration of technology and finance [7][8].

■本报记者 王爱静 作为"中国外贸百强城市"，宁波经济的对外依存度超过80%，其中民营企业占据举足轻重的地位。为加 大对涉外企业的定向支持与帮扶力度，近年来，人民银行宁波市分行强化政策引导、拓宽融资渠道，全 面提升金融助力民营经济发展质效。 博菱公司成立初期，面临资金短缺的难题，浙江农商联合银行辖内北仑农商银行基于对公司发展潜力的 认可，提供了关键融资支持。10余年来，北仑农商银行多措并举助力企业节省财务费用并完成海外布 局。 金融支持涉外企业，除了提供精准服务护航其发展外，高效便捷的跨境金融服务也是助力外贸企业在全 球市场中稳健前行的关键要素。"我们用行业首创的'外汇金管家'系统为进出口企业提供7×24小时全线 上服务，企业足不出户即可办理外汇结算、融资、避险等200多项业务。"宁波银行党委副书记付文生对 记者说。 据付文生介绍，宁波银行依托数字化，将外贸企业嵌入数字金融的发展链条。通过"速汇盈"服务，企业 可直接在ERP或OA系统中办理国际收支业务，实现"数据多跑路，企业少跑腿"。 自"外汇金管家"系统推出以来，已成功助力众多外贸企业应对汇率波动和资金周转难题。特别是针对货 代企业，该系统还提供"拍照汇款 ...

中国人民银行等六部门：实施好货币政策，加强逆周期和跨周期调节，综合运用准备金、再贷款再贴 现、公开市场操作等多种货币政策工具，保持流动性充裕，持续推动社会综合融资成本下降。 ...

在当前世界贸易形势仍然存在较大不确定性的情况下，今年经济要实现稳中向好，实现年初既定的增长 目标，稳住外部需求仍是政策的重点关注。央行提出要运用再贴现支持在沪商业银行向进出口企业提供 人民币跨境贸易融资的意义正在于此。事实上，再贷款和再贴现是典型的直达实体经济的货币政策工 具，用以解决传统总量型政策工具传导效率迟缓和传导机制不畅的问题。我们看到，再贴现天生具 有"先贷后借"属性，央行通过再贴现的票据选择，明确贴现重点支持外贸企业，明确引导商业银行对符 合政策导向的外贸企业展开贴现业务，能够起到结构优化和精准滴灌的目标，广大外贸企业也能够获得 更多资金支持，商业银行业可免除后顾之忧。 利用好债券市场支持科创企业发展也是今年货币政策的重要创新之一。长期以来，科创企业受到自身资 产负债和风险特点的影响，主要依靠风险投资机构的股权融资维持资金运转，发债难度相对高。而债 市"科技板"当前面临的两大问题就是发债主体亟待扩容以及风险缓释工具有待完善，恰好央行在本次金 融政策中，关注到了上述两点。由投资经验丰富的头部私募股权投资机构、创业投资机构等发行长期限 科技创新债券，带动更多资金投早、投小、投长期、投硬科技，也有利于打 ...

民营企业是外贸稳增长的主力军，市场各界关注民营企业外贸发展。今年以来，上海、广东等多地海关 持续推出为民营企业减负增效的通关便利化举措，为民营企业更好地开展外贸进出口业务提供坚实支 撑。 例如，5月29日，上海海关推出《上海海关2025年促进跨境贸易便利化专项行动若干措施》，共5个方面 33条措施，进一步提振企业信心，全力促进外贸稳量提质。 中国进出口银行表示，本次发行是该行强化政策性金融职能定位，聚焦主责主业，助力培育民营企业国 际经贸合作和竞争新优势的有益实践。"下一步，该行将继续发挥专业优势，优化资源配置，提升金融 服务，扎实推动民营经济高质量发展。" 记者了解到，在本次发行之前，中国进出口银行今年已累计发行外贸领域主题金融债券320亿元。其 中，服务外贸提质增效主题金融债券270亿元，支持外贸基础设施互联互通主题金融债券50亿元，为外 贸稳定增长提供了有力支撑。 【导读】中国进出口银行成功发行支持民营企业外贸发展主题金融债券，金额为50亿元 其中，在保障重点商品通关便利方面，上海海关围绕"新三样"、农食产品等重点商品加快通关速度，结 合生物医药、汽车制造等上海先进制造业产业特色，试点开展出口锂电池包装 ...

Core Viewpoint - The People's Bank of China (PBOC) has reported significant effects of counter-cyclical monetary policy adjustments in the first quarter, with stable growth in financial totals and an optimized credit structure [1][2] Group 1: Monetary Policy and Financial Stability - The PBOC will continue to strengthen the execution and supervision of interest rate policies, aiming to lower bank funding costs and reduce overall social financing costs [1] - In the first quarter, monetary credit maintained reasonable growth, utilizing various tools such as reserve requirements and open market operations to ensure ample liquidity and support key economic sectors [1][2] Group 2: Loan Rates and Economic Development - In March, new corporate loans and personal housing loan rates decreased by approximately 50 and 60 basis points year-on-year, creating a favorable financial environment for high-quality economic development [2] - The PBOC plans to enhance the implementation of interest rate policies and continue reforms to improve the Loan Prime Rate (LPR), while expanding pilot areas for comprehensive financing cost assessments for enterprises [2] Group 3: Future Directions - The PBOC will leverage monetary credit policy to guide financial institutions in supporting technology finance, green finance, inclusive small and micro enterprises, consumption expansion, and stabilizing foreign trade [2] - The scope of re-loans for affordable housing will be broadened to maintain stability in the real estate market [2]

以下是报告的核心内容： // 经济长期向好的趋势未变 // 今年宏观经济政策协同发力，经济向好。一季度GDP同比增长5.4%，社会信心提升，高质量发展取得 进展，经济开局良好。 央行实施适度宽松货币政策，保持流动性充裕，推动社会融资成本下降，优化信贷结构，稳定汇率，加 强风险防范。金融总量平稳增长，3月末社会融资规模存量、广义货币M2同比分别增长8.4%和7.0%， 人民币贷款余额达265.4万亿元。融资成本处于历史低位，信贷结构优化，人民币汇率稳定。 报告分析了当前经济形势，认为 外部冲击影响加大，全球经济增长动能不足，贸易保护主义抬头，地 缘冲突持续 ，我国经济回升向好的基础需进一步稳固。但我国有超大规模市场、完备产业体系、丰富 人才资源等优势，经济长期向好的趋势未变。 5月9日，央行发布2025年一季度《中国货币政策报告》，总结一季度货币政策执行情况，并对未来货币 政策方向进行展望。 具体而言， 一是落实好适度宽松的货币政策 ，为扩大消费营造良好金融环境。综合运用准备金、再贷 款再贴现、公开市场操作等多种政策工具，保持流动性充裕。探索运用结构性货币政策工具，加大消费 重点领域低成本资金支持。 二是出台金 ...

相关链接 | | 利率 | | --- | --- | | 再贷款 1 | | | 1.支农支小再贷款 | | | 其中:3个月 | 1.20% | | 6个月 | 1.40% | | 1年 | 1.50% | | 2.金融稳定再贷款 | 1.75% | | 其中:延期期间 | 3.77% | | 再贴现 | 1.75% | 中国人民银行公布再贷款、再贴现利率表 金十数据5月7日讯，3个月、6个月和1年期支农支小再贷款利率分别为1.2%、1.4%和1.5%，金融稳定再 贷款利率为1.75%，其中延期期间为3.77%，再贴现利率为1.75%。 ...

为进一步扩大业务规模，提升绿色能源供应能力，广东某新能源有限公司向东莞银行申请信贷资金用于 经营周转。鉴于其在分布式光伏发电领域的突出表现及良好发展前景，在中国人民银行东莞市分行"莞 绿融"支小再贷款专项资金的支持下，东莞银行给予该企业1000万元贷款支持。 中国人民银行东莞市分行充分发挥结构性货币政策工具的牵引带动作用，2024年累计投放结构性货币政 策工具资金512.21亿元，同比增加44.96亿元，其中碳减排支持工具4.52亿元，涉及碳减排贷款7.53亿 元，投放量稳居广东省地级市首位，为东莞绿色发展提供了稳定的低成本信贷资金。 2024年以来，在中国人民银行广东省分行指导下，中国人民银行东莞市分行深入贯彻落实中央金融工作 会议精神，充分发挥绿色金融在调结构、转方式、促可持续发展等方面的积极作用，立足地方绿色产 业、绿色项目和高碳行业，精准对接实体经济绿色低碳转型需求，以金融"含绿量"提升辖区发展"含金 量"。截至2025年一季度末，全市绿色贷款余额2493.6亿元，比年初增长7.99%，高于全市各项贷款增速 5.27个百分点。 用好政策工具 带动发展资金更足 绿色发展是高质量发展的底色。随着金融与绿色 ...