China-Monetary Policy/Real Economy
FILE: Beijing, China - Date Unknown (CCTV - No access Chinese mainland)
1. Various of headquarters of People's Bank of China (PBOC)
Beijing, China – Jan 9, 2019 (CCTV - No access Chinese mainland)
2. Head of PBOC Yi Gang (R)
3. SOUNDBITE (Chinese) Yi Gang, head, People's Bank of China (partially overlaid with shot 4/ending with shot 5):
"The growth of RMB loans is evident. Abundant liquidity and the increase of RMB loans offered effective hedges against austerity caused by business shrinkage in shadow banking system. And these policies, whether they work to smooth economic fluctuations or achieve hedge, show that macro-control policy focuses on counter-cyclical adjustments."
++SHOT OVERLAYING SOUNDBITE++
FILE: China - Date Unknown (CCTV - No access Chinese mainland)
4. Various of machines counting Chinese yuan banknotes
++SHOT OVERLAYING SOUNDBITE++
FILE: Guangzhou City, Guangdong Province, south China - Date Unknown (CCTV - No access Chinese mainland)
5. Various of workers working in factory
FILE: China - Date Unknown (CCTV - No access Chinese mainland)
6. Various of consumers in shopping mall
7. Chinese yuan banknotes
8. Employee at work
Beijing, China – Jan 9, 2019 (CCTV - No access Chinese mainland)
9. SOUNDBITE (Chinese) Yi Gang, head, People's Bank of China (partially overlaid with shot 10):
"With appropriate handling of the total amount, the structure, and the pace, we can ensure the market entities steadily follow the market rules within expectation and operate step-by-step, so that the economy can run in a good order."
FILE: China - Date Unknown (CCTV - No access Chinese mainland)
++SHOT OVERLAYING SOUNDBITE++
10. High-rise buildings
++SHOT OVERLAYING SOUNDBITE++
11. Various of bank clerks at work
Beijing, China – Jan 9, 2019 (CCTV - No access Chinese mainland)
12. SOUNDBITE (Chinese) Yi Gang, head, People's Bank of China (partially overlaid with shot 13):
"We will further increase reloan and rediscount [to small and micro enterprises]. In the meantime, there will be appropriate tolerance on commercial banks' non-performing assets and loans to small and micro enterprises, so that the banks will be more willing to offer loans to small and micro enterprises."
++SHOT OVERLAYING SOUNDBITE++
13. Yi in interview
++SHOT OVERLAYING SOUNDBITE++
FILE: China - Date Unknown (CCTV - No access Chinese mainland)
14. Various of high-rise buildings
15. China Construction Bank
16. Bank of China
17. Machine counting Chinese yuan banknotes
18. Bank clerks at work
19. Various of vehicles on assembly line, worker in factory
20. Machines in operation
China is going to boost real economy with prudent and precise monetary policy, said the Yi Gang, head of the People's Bank of China (PBOC) in an interview with China Central Television on Wednesday.
PBOC, China's central bank, decided on Friday to cut the requirement reserve ratio (RRR) for the Chinese yuan deposits by one percentage point, which will unleash 1.5 trillion yuan, or 219 billion U.S. dollars, of cash into the economy to combat an economic slowdown.
"The growth of RMB loans is evident. Abundant liquidity and the increase of RMB loans offered effective hedges against austerity caused by business shrinkage in shadow banking system. And these policies, whether they work to smooth economic fluctuations or achieve hedge, show that macro-control policy focuses on counter-cyclical adjustments," said Yi.
The RRR cut will be implemented by two steps, including a 50 basis points reduction starting from January 15 and another 50 basis points cut following on January 25.
"With appropriate handling of the total amount, the structure, and the pace, we can ensure the market entities steadily follow the market rules within expectation and operate step-by-step, so that the economy can run in a good order," Yi explained.
Yi added that the central bank will work with relevant departments to encourage banks to increase support to real economy.
"We will further increase reloan and rediscount [to small and micro enterprises]. In the meantime, there will be appropriate tolerance on commercial banks' non-performing assets and loans to small and micro enterprises, so that the banks will be more willing to offer loans to small and micro enterprises," said Yi.
China-Monetary Policy/Real Economy
Dateline : Jan 9, 2019/File
Location : China
Duration : 2'06
FILE: Beijing, China - Date Unknown (CCTV - No access Chinese mainland)
1. Various of headquarters of People's Bank of China (PBOC)
Beijing, China – Jan 9, 2019 (CCTV - No access Chinese mainland)
2. Head of PBOC Yi Gang (R)
3. SOUNDBITE (Chinese) Yi Gang, head, People's Bank of China (partially overlaid with shot 4/ending with shot 5):
"The growth of RMB loans is evident. Abundant liquidity and the increase of RMB loans offered effective hedges against austerity caused by business shrinkage in shadow banking system. And these policies, whether they work to smooth economic fluctuations or achieve hedge, show that macro-control policy focuses on counter-cyclical adjustments."
++SHOT OVERLAYING SOUNDBITE++
FILE: China - Date Unknown (CCTV - No access Chinese mainland)
4. Various of machines counting Chinese yuan banknotes
++SHOT OVERLAYING SOUNDBITE++
FILE: Guangzhou City, Guangdong Province, south China - Date Unknown (CCTV - No access Chinese mainland)
5. Various of workers working in factory
FILE: China - Date Unknown (CCTV - No access Chinese mainland)
6. Various of consumers in shopping mall
7. Chinese yuan banknotes
8. Employee at work
Beijing, China – Jan 9, 2019 (CCTV - No access Chinese mainland)
9. SOUNDBITE (Chinese) Yi Gang, head, People's Bank of China (partially overlaid with shot 10):
"With appropriate handling of the total amount, the structure, and the pace, we can ensure the market entities steadily follow the market rules within expectation and operate step-by-step, so that the economy can run in a good order."
FILE: China - Date Unknown (CCTV - No access Chinese mainland)
++SHOT OVERLAYING SOUNDBITE++
10. High-rise buildings
++SHOT OVERLAYING SOUNDBITE++
11. Various of bank clerks at work
Beijing, China – Jan 9, 2019 (CCTV - No access Chinese mainland)
12. SOUNDBITE (Chinese) Yi Gang, head, People's Bank of China (partially overlaid with shot 13):
"We will further increase reloan and rediscount [to small and micro enterprises]. In the meantime, there will be appropriate tolerance on commercial banks' non-performing assets and loans to small and micro enterprises, so that the banks will be more willing to offer loans to small and micro enterprises."
++SHOT OVERLAYING SOUNDBITE++
13. Yi in interview
++SHOT OVERLAYING SOUNDBITE++
FILE: China - Date Unknown (CCTV - No access Chinese mainland)
14. Various of high-rise buildings
15. China Construction Bank
16. Bank of China
17. Machine counting Chinese yuan banknotes
18. Bank clerks at work
19. Various of vehicles on assembly line, worker in factory
20. Machines in operation
China is going to boost real economy with prudent and precise monetary policy, said the Yi Gang, head of the People's Bank of China (PBOC) in an interview with China Central Television on Wednesday.
PBOC, China's central bank, decided on Friday to cut the requirement reserve ratio (RRR) for the Chinese yuan deposits by one percentage point, which will unleash 1.5 trillion yuan, or 219 billion U.S. dollars, of cash into the economy to combat an economic slowdown.
"The growth of RMB loans is evident. Abundant liquidity and the increase of RMB loans offered effective hedges against austerity caused by business shrinkage in shadow banking system. And these policies, whether they work to smooth economic fluctuations or achieve hedge, show that macro-control policy focuses on counter-cyclical adjustments," said Yi.
The RRR cut will be implemented by two steps, including a 50 basis points reduction starting from January 15 and another 50 basis points cut following on January 25.
"With appropriate handling of the total amount, the structure, and the pace, we can ensure the market entities steadily follow the market rules within expectation and operate step-by-step, so that the economy can run in a good order," Yi explained.
Yi added that the central bank will work with relevant departments to encourage banks to increase support to real economy.
"We will further increase reloan and rediscount [to small and micro enterprises]. In the meantime, there will be appropriate tolerance on commercial banks' non-performing assets and loans to small and micro enterprises, so that the banks will be more willing to offer loans to small and micro enterprises," said Yi.
ID : 8100220
Published : 2019-01-10 01:11
Last Modified : 2019-01-10 23:14:00
Source : China Central Television (CCTV)
Restrictions : No access Chinese mainland
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