This year, the terminal DR007 dropped from 2.8% in the first half of the year to 2.6%, and China’s 10year treasury bond yield also fell from around 4% at the beginning of this year to around 3.3% at present. This is the effect of the prudent and neutral monetary policy, reflecting its support for the real economy.
It is safe to say that the financing and interest rate conditions are more relaxed, which can partly ease the problem of enterprises being unable to access loans or having to pay high interest to secure loans. Looking at aggregate indicators, we just released the growth rates of the M2 money supply and aggregate financing.