中国金融(国外英语资料).doc

中国金融 In recent years, the rapid development of Chinas nongovernmental credit is an inevitable result of the governments macro policy in Chinas economic and social system. Since the second half of 2008 the world economic recession, a sharp decline in exports and cope with macroeconomic growth decline in the second half of 2008, China government launched the four trillion economic stimulus plan, and then take a very loose monetary policy. In 2009 and 2010 in two years, commercial bank credit amount increases 22 trillion and 500 billion (data from UBS), broad money has increased 25 trillion and 60 billion yuan. For the first time since January 2010 to improve the commercial bank deposit reserve rate, to curb the rising trend of CPI, the central bank has raised benchmark interest rates 5 times, 12 times to improve the method of prospective payment rates, finally reached a high of 21.5%. However, from 1 to September this year, the total amount of loans made by commercial banks in China was as high as 5 trillion and 680 billion yuan. It seems that over 7 trillion and 500 billion yuan in 2011 is entirely predictable. Under such a high reserve requirement, why is Chinese commercial bank loans still high? The main reason is that, at all levels of government investment projects to maximize the spread stalls in the anti crisis, so that all new construction in the past two years China government investment scale accumulated for 1.2~1.3 times, and GDP, with the construction of starting around 12th Five-Year and planning of affordable housing, commercial bank credit is difficult to drop get down. Due to the large number of government investment projects in the most funds from bank loans, only a few from government spending, which means that in the next two or three years, the scale of commercial bank credit is difficult to appear substantial compression. However, the legal Jin was raised to 21.5% (small and medium-sized banks for 19.5%) high, the commercial banks within the loana