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September 18 2014


August new loans in line with expectations in the fourth quarter monetary policy easing is expected to increase

Latest central bank data show that the scale of financing in August 2014 was 957.4 billion yuan of social, 683.7 billion yuan more than last month, 626.7 billion yuan less than the same period last year. Month of RMB loans increased by 702.5 billion yuan, up by 10.3 billion yuan less. Most analysts believe that the fourth quarter GDP growth still face greater downward pressure on monetary policy continued directional loose material, comprehensive prospective or cuts down the possibility of further increase. 

August new loans in line with expectations 

Analysts believe that, compared with the same period last year, a decrease of social financing scale, with the August downturn is directly linked to economic data. According to the August National Bureau of Statistics released the latest data show that in August the main economic indicators of growth of industrial, power and investment have a certain degree of decline, in which the above-scale industrial added value of an actual increase of 6.9%, compared with July fell 2.1 percentage points; national real estate development and investment 5.8975 trillion yuan, an increase of 13.2% nominal growth rate down 0.5 percentage points over 1-7 months; nationwide investment in fixed assets (excluding farmers) 30.5786 trillion yuan, an increase of 16.5% nominal growth rate than 1-7 months fell 0.5 percentage points. 

National Bureau of persons with Guo Yan believes that fell in August economic data, there are many causes. The external environment, the world economic recovery is less than expected, a slowdown in external demand, while export growth slowed down again affected the industrial production. 

However, the total amount of credit in August compared with July there is a more substantial increase. Under the financing of social decline for two consecutive months, the credit growth still picked up, and the central bank has continued to guide policies to reduce financing costs. According to statistics, inter-bank lending market in August, the monthly weighted average interest rate was 3.17%, respectively, year on year last month, and 0.24 and 0.27 percentage points lower; pledged bond repurchase weighted average interest rate was 3.11%, respectively, over the previous month and last year the low 0.30 and 0.34 percentage points, continuing a slow downward trend. 

Senior research analyst at China Merchants Securities, said Xie YaXuan, August short-term loans and bill financing the incremental contribution of the credit chain of 90%, showing the size of the end of the loan punch obvious characteristics; while corporate long-term loans accounted for a substantial decline in investment in the real economy display demand is still weak. Overall, in addition to M2 growth, the August data overall placid. M2 growth is still affected by the size of the deposit, the recent volatility increased significantly. Although the size of credit line with expectations, but no significant rebound in business long-term loans, indicating that the real economy investment demand remains sluggish. Although the total amount of social rebounded broadly stable supply of credit in favor, but the non-standard business by sharply negative growth to slightly positive growth means that pressure is not reduced to guard against financial risks. 

Partial loose monetary policy is expected 

Executives recently attended Summer Davos Forum in Tianjin this year, said the international and domestic economy in the new normal, we should pay more attention to long-term problems of structural adjustment, etc., not with short-term fluctuations in individual indicators rather small dance. Four months, will continue to strengthen the regulation of directional control on the basis of the range this year, to promote structural reforms and adjustments. 

CICC believes, expects third quarter GDP growth slowed to 7.3% year on year. Since domestic demand is weaker than the kinetic energy of the ring, with a higher base last year, the fourth quarter GDP growth still face greater downward pressure on the policy balance steady growth and structural adjustment difficult. Economic slowdown easing pressure increase, in addition to directional loose, the overall likelihood of further rate cuts down the quasi or improve. Huarong Securities analysts also expect this year after four months of monetary policy to increase the intensity of steady growth, may introduce some of the more targeted efforts to relax the measures. Sheet financing will increase, will stimulate the economy to some extent, and thus limited the magnitude of market interest rates downward. 

National Development Research Institute of Peking University Huang Yiping [microblogging] said that if the next economic data continued to decline, particularly in a weak economy, the direction of monetary policy "can not say." "On the current trend continues, I think the next step should still continue to adhere to the micro-stimulation and directional loose, but now all of a sudden do not see signs of a comprehensive liberal." 

However, the Academy of Social Sciences World Economics and Politics Institute global macroeconomic research director Zhang Bin believes room for adjustment in monetary policy has little room for the total amount of adjustment especially unlikely, however, directed the regulatory structure will still carry on. Monetary policy is expected to remain a relatively stable trend. "Although it is now prudent monetary policy, but look at the inter-bank interest rates have been relatively low, not much room for further then relax."

June 28 2014


Credit Cards Galore

Shopping shopping, friends and family dinners, outings, credit cards can get, some businesses also launched a joint bank credit card offers, cardholders tempt the appetite. However, after spending snowflakes flying credit card bills each cardholder must face reality. Bank staff said, overdue will not only be charged overdraft interest and late fees, but also have an impact on credit. In this paper, an inventory of the various existing valid credit card repayment method for the cardholder repayment Weapon. Looking through the offers, it is difficult to find out the best credit card in singapore as different cards suit different spending patterns.

Enhance the amount of time to pay off the temporary
During the holidays, for a large consumer demand cardholders will generally apply for a temporary facility to enhance the credit card, but need to be noted that the temporary line of credit cardholders get is a "valid", mostly for 30 days. After the expiration of the cardholder's credit card line of credit will be automatically restored to its original amount.
A bank credit card center customer service staff explained, "does not enjoy the temporary revolving credit facility, the actual credit card over part of the original credit amount will be recognized in the income statement is also the minimum amount needed to pay off the due repayment once before." If temporary limit expires, the cardholder has not yet been returned to use part of the temporary facility, the bank will charge fees overrun by a certain percentage, usually 5% overrun parts.

Binding once associated account
If the credit and debit cards are the same bank, the binding of repayment can be said once and for all. Just by association automatic payments, the bank will automatically deduct the amount from the customer's final repayment date debit card account, credit card payment that month should also easy to get repayment.
At present, most banks have introduced automatic repayment bound business, cardholders simply hold a valid identity card, credit card and debit card want to bind to the bank can handle any outlets.
At the same time, some banks offer automatic payments business more humane, such as automatic debit card payments in full repayment of the balance is not enough, the bank will deduct a portion of the first paragraph to repay the current minimum payments required , in order to avoid late fees and other expenses.
Another point to note is that if the exit card to play, a lot of dual-currency credit card is not automatically associated with the repayment of RMB against foreign currencies, then the need to purchase foreign exchange business job opening.

Repayment convenient self-service channel
In addition to traditional counter repayment young "race card" can also choose electronic channels, such as online banking or mobile banking to complete repayment. It is understood that the current online banking, telephone banking, mobile banking, ATM machine and so support credit card payments. If the cardholder has opened online banking, telephone banking or mobile banking services, the repayment day a few days, you can easily take advantage of these channels buffet or before the repayment.

Third-party payment platform mention a few days ago
If held by credit and debit cards are not the same bank, you need to interbank payments, inevitably incurred. Then select the third-party payment repayment not only convenient, but also save a lot of fees, such as Paypal, UnionPay online, Kara and so on. It is understood Kara Su fruit in Nanjing, the super Wal-Mart has a credit card machine. Which China Construction Bank, Bank of China, Agricultural Bank, Bank of Communications, Industrial and Commercial Bank of China, Bank of Beijing Kara repayment by credit card, you need to pay 2 yuan / pen fee.
At present, the use of computers in Alipay to their credit card repayments, still free of service charges, to others repayment repayment amount will be charged a 0.2% service charge, minimum 2 yuan / T, up to 25 yuan / pen. But cardholders phone, Pad Alipay mobile client, either to yourself or someone else's credit card payments are free of service charges.
To remind the industry, the use of third-party payment platform for credit card payment credited into account the time needed to pay attention to money, the best repayment ahead two or three days to avoid being penalty. After the operation, such as the repayment by Kara, some banks credit card limit is real-time recovery, such as China Merchants Bank, China Minsheng Bank, China Everbright Bank. And there are some credit card limit recovery to wait 1-3 days, for example, requires T +1 day Huaxia Bank, China Construction Bank require T +2 days, the Bank of China, Industrial and Commercial Bank of China will need T +2 days. And by Alipay online payment methods, most banks can now arrival.
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