Program introduction

Lending rates at a lower level, China's Central Bank said 5.86%

at present, the voices of higher financing costs in China, everybody points the finger at banks, banks, financing may be expensive for many reasons. The Central Bank's monetary policy Division research group recently conducted a comparative study of the data, published an article which pointed out that compared with the emerging economies are the BRICS countries, lending rates are at a relatively low level of Bank spreads in the economies, at relatively moderate levels.

for outside on China loan interest rate high, and bank Lee poor had big of criticism, Bank [micro-Bo] currency policy Division subject group recently for has data compared research, its published articles pointed out that, regardless of and emerging economic body also is BRIC national compared, China of loan interest rate are in relative lower of level, Bank Lee poor in the economic body in the is in relative moderate of level.

Central Bank research group believes that although China's lending rate slightly higher than that of developed countries, but significantly lower than the average level in emerging economies and the BRIC countries. From 2000 to 2013, the average lending rate of 4.05% in advanced economies, while emerging economies 10.77%, excluding Brazil, BRIC countries interest rate is 10.49%. More than 10 years, China's average annual loan interest rate is 5.86%.

by 2013, China loans interest rate lower than that of emerging economies, 2.78%, 6.33% lower than that of BRIC countries.

judging from the bad loans, Central Bank research group says China's bad loan ratio at a low level. 2013, China's bad loan ratio is 1%, in the G20 economies than Canada and Korea.

in recent years, the Chinese Bank's bad loan ratio in the global low level, which also has financial institutions to digest a lot of bad assets, the impact of factors such as rapid lending in recent years.

in the context of economic restructuring, its bad loan ratio stage modest rebound is also normal.

Central Bank singled out the so-called "equilibrium rate", pointed out that China's real interest rates are not high, although the real lending rates upward in recent years, but compared with the GDP growth rate is still at a low level.

Finally, the Bank believes that gradual adjustment of Chinese economic structure change in recent years, the savings rate fell significantly exceeds the decline in investment rates, which may occur in the context of overall investment growth slowed (real) interest rates rose. Shadow banks have pushed up the cost of financing. And as the banks ' risk appetite fell, some soft constraints and high costs of financing sector growth slows, economic structural adjustment and growth process of dynamic equilibrium may give birth to reduce the cost of financing the force.