2020-01-15
2020 infrastructure shortcomings may become a highlight of the steel industry
A few days ago, the People's Bank of China announced that it will reduce the deposit reserve ratio of financial institutions by 0.5 percentage points on January 6 (excluding finance companies, financial leasing companies and auto finance companies). The overall RRR cut will release more than 800 billion yuan of medium and long-term liquidity, which will promote financial institutions to increase their service to the real economy. However, it is worth noting that the reduction in standards does not mean a shift in monetary policy. The ultimate purpose is to promote the decline in loan interest rates, thereby reducing the financing cost of the real economy.
On January 2nd, the special bonds of Sichuan and Henan provinces were issued through public tender, which was nearly 20 days earlier than the same period last year, and became the earliest province to issue special bonds in 2020. In addition, Yunnan, Zhejiang, Shanxi, Shenzhen, Guangdong and other provinces and cities have also announced plans to issue special bonds in January 2020, with a scale of 438.6 billion yuan.
It is understood that Sichuan Province has successfully issued 35.671 billion yuan of new special bonds with maturities of 10, 15, 20, and 30 years. It is mainly used for toll roads, urban and rural infrastructure, cultural tourism, ecological protection, schools, health, Construction of industrial parks, water services, rural revitalization and other projects. Henan Province successfully issued 51.9 billion new special bonds with maturities of 5 years, 7 years, 10 years, 15 years, and 30 years. It is mainly used for transportation infrastructure, agriculture, forestry and water conservancy, social undertakings, ecological protection, municipal and industrial parks Facilities and other projects.
According to indu