[SMM Steel Morning News] Ministry of Commerce: promote strengthening financial support, stabilizing foreign trade, stabilizing foreign investment and promoting consumption

News Breakfast

"rising factors

1. Li Keqiang presided over a forum of economic situation experts and entrepreneurs.

Li Keqiang: recently, the economy has shown a momentum of restorative growth, showing a trend of gradual stabilization. However, the uncertainty of the international environment is still increasing, the situation is still grim, and the difficulties and challenges facing the domestic economy, especially the pressure on employment, are still very prominent, and we should be prepared to continue to fight an uphill battle. It is necessary to enhance the timeliness of the implementation of macro policies, adhere to and fully implement proactive fiscal policies, prudent monetary policies, and policies that give priority to employment, and make profits for enterprises to reduce taxes and fees on a larger scale. We will intensify reform and opening up, stimulate the vitality of the main body of the market, and stabilize the basic economic market.

2. Ministry of Commerce: promote more financial support, stabilize foreign trade, stabilize foreign investment and promote consumption.

The Ministry of Commerce issued the working Circular on strengthening Cooperation and Linkage to strengthen Financial support, stabilize Foreign Trade, stabilize Foreign Investment and promote consumption, which proposes to encourage financial branches in various places to study and introduce special measures in the light of reality. We will continue to enhance the quality and efficiency of financial services, help enterprises improve the availability of financing, reduce financing costs, ensure the operation of the capital chain, and alleviate the problems of difficult, expensive and slow financing for enterprises. We will actively innovate, give full play to the guiding role of financial funds, and promote banks, insurance institutions and social capital to increase support for small and medium-sized enterprises.

3. The national land market continued to operate at a high level in July.

Statistics from the Central Plains Real Estate Research Center show that by July 13, 2020, the national land market continues to heat up, especially in Hangzhou, Shenzhen, Guangzhou, Beijing and other cities where high prices continue to appear, and the trend of real estate enterprises actively taking land begins to appear. The average land premium rate of first-and second-tier cities reached 12.65% in 2020, the highest in the past three years.

Downside factor

1. With the return of heavy rainfall in the Yangtze River Basin, there will be torrential rain in many parts of the south.

According to the Central Meteorological Observatory on the afternoon of July 13, heavy rainfall will occur again in the Yangtze River basin from July 14 to 16, with torrential rain in Sichuan, Chongqing, Shaanxi, Hubei, Anhui, Jiangsu, Zhejiang and other places. Five consecutive heavy rainfall processes occurred after mid-June, all concentrated in the eastern part of the southwest to the middle and lower reaches of the Yangtze River. From July 14 to 16, heavy rainfall will occur again in the Yangtze River basin. The accumulated rainfall in northeastern and southern Sichuan Basin, northern Chongqing, southeastern Shaanxi, northeastern Hubei, southeastern Henan, south-central Anhui, southern Jiangsu, Shanghai and northern Zhejiang is 100mm to 180mm, and the local rainfall can reach 200mm to 300mm.

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