联系我们
微信 扫一扫
  • Phone:+86-769-82270666
  •              +86-769-82793088
  • Fax:    +86-769-82270388
  • E-mail:sales@norwovenhc.com
  • Address:Lundu Road, Tiantun Block, Qisha Village, Shatian Town, Dongguan
[How does the central bank's third RRR cut affect the textile industry during the year?]
Release date:[2018/11/5] Is reading[99]次

First, the news description

 

The following is the official announcement issued by the central bank:

 

In order to further support the development of the real economy, optimize the liquidity structure of commercial banks and financial markets, reduce financing costs, and guide financial institutions to continue to increase support for small and micro enterprises, private enterprises and innovative enterprises, the People's Bank of China decided that from 2018 From October 15th, the RMB deposit reserve ratio of large commercial banks, joint-stock commercial banks, city commercial banks, non-county rural commercial banks and foreign banks will be lowered by 1 percentage point. The medium-term loan facilities (MLF) due on the day will not be renewed. .

 

The People's Bank of China will continue to implement a prudent and neutral monetary policy, not to engage in floods, to reorient and control, to maintain a reasonable and sufficient liquidity, to guide the rational growth of monetary credit and social financing, and to create a high-quality development and supply-side structural reform. A suitable monetary and financial environment.

 

Second, the purpose of the RRR

 

This is the third rate cut since 2018. In April and June 2018, the central bank reduced the reserves by 100 and 50 basis points respectively. The central bank once again lowered the benchmark by 100 basis points. Since the beginning of this year, the statutory deposit reserve ratio has been reduced by 250 basis points.

 

After the RRR cut, the reserve ratios of large and medium-sized deposit-type financial institutions were 14.5% and 12.5% ​​respectively. The RRR cut will release about 1.2 trillion yuan, of which MLF450 billion will be repaid on October 15, and 750 billion yuan will be released. According to the official statement of the central bank, the purpose of this RRR reduction is to support the development of the real economy by reducing the financing costs of SMEs, and to optimize the liquidity structure of commercial banks and financial institutions.

 

3. What is the impact on the textile industry?

 

1. It is conducive to solving the financial problems of cotton-related and textile enterprises, and credit support will be strengthened.

 

2. With the focus of the central bank, government funds and the government to turn to thousands of small and micro enterprises, especially to speed up the "debt-to-equity swap", the tight cash flow pressure of cotton-related enterprises is expected to be effectively alleviated.

 

(1) First of all, to assist the acquisition and processing of seed cotton in 2018/19 to protect farmers' income;

 

(2) Secondly, the cotton traders and textile enterprises are supplemented, which is conducive to the stability of cotton prices and the medium and long-term development of the market. The textile enterprises appropriately increase the storage of cotton and other materials to avoid the risk of huge fluctuations such as Zheng cotton and ICE; (3) Again, it will benefit cotton sales in 2017/18 and speed up the withdrawal of funds. 3. Stimulate the consumption of domestic cotton, textiles and clothing, and form a positive result for the entire industry. 4. The liquidity is appropriate and lenient. It is good for the people to invest and borrow. At least the cost of borrowing will not rise further, and may even decline in the future. Therefore, in the case of stable financing costs and recovery of market confidence, domestic consumption And investment is expected to go out of the trough, the production and sales of small and micro enterprises such as cotton, textiles and clothing will be fully restored and even entered the "fast lane". Stable production and consumption promotion become a top priority.

 

5. The government's determination to implement a prudent monetary policy has given cotton and textile enterprises a "reassuring". 6. China's economic growth in the second half of the year is under pressure, and the risks brought about by the decline in financing growth under the background of capital constraints and financial supervision are becoming more and more obvious. "Reducing the standard" to achieve precise control, to ease the impact of de-leveraging on small and micro enterprises has become an inevitable option. From the perspective of monetary policy, the continuous reduction of standards has released liquidity, and the confidence of small and medium-sized enterprises such as cotton, textiles and clothing has been continuously restored.

 

Fourth, the market outlook

 

First, the central bank has released trillions of funds, and the real economy has received tremendous support. In particular, the problem of capital flow for small and medium-sized manufacturing enterprises has been alleviated. Secondly, textile mills have been supplemented with funds to stabilize long-term development and evade, for example, PTA futures. The risk of skyrocketing.

 

Second, increase the export tax rebate rate twice this year. The increase in the tax rebate rate is concentrated between 1% and 3%, and further simplifies the tax system and speeds up the tax rebate, from the original 13 working days to 10 working days. On the one hand, it increases the profits of enterprises, on the other hand, it relieves the pressure on corporate capital turnover.

 

Third, the Ministry of Environmental Protection has relaxed the winter pollution prevention measures. For most chemical companies, it is no longer a one-size-fits-all cut, but those that are truly polluting will be inspected.

 

Fourth, China has reduced the MFN tariff rate of 1,585 tax items from November, including imported textile machinery, so that more companies can import high-quality machinery and equipment to produce high-quality products and reduce the difficulty of upgrading technology. .

 

Under the influence of so many favorable policies, the textile manufacturing industry is no longer difficult this winter.

 

The non-woven products produced by Dongguan Jinchen Non-woven Co., Ltd. are widely used in agriculture, medical and health, shopping bags, industry, construction, household goods and disposables, etc., always with first-class product quality and preferential Product prices and satisfactory sales services win the trust of customers!

Keyword:
Feedback
all rights reserved Dongguan City Fidelity Limited 技术支持:中国丙纶网 | 如果本网站发布的文章或者图片或字体有侵权,请立即联系网站负责人进行删除,联系人:薛小姐 138 6101 6292,付小姐 153 1256 7839