中国人民銀行由２２日開始調低利率

Last month the NHK News on-line reported the following:

中国人民銀行 ２２日から金利引き下げ

11月21日 21時35分

中国の中央銀行「中国人民銀行」は、２２日から金融機関の貸し出しと預金の基準金利をそれぞれおよそ２年４か月ぶりに引き下げると発表し、中国経済が減速するなか、景気を下支えするねらいがあるとみられます。

「中国人民銀行」の発表によりますと、２２日から金融機関が企業に資金を貸し出す際の基準金利を、今の年６％から０．４％引き下げて年５．６％に、預金の基準金利を今の年３％から０．２５％引き下げて年２．７５％とします。
中国が金利を引き下げるのは、おととし７月以来、およそ２年４か月ぶりです。
中国は不動産投資の伸び悩みなどを背景に、ことし７月から９月までのＧＤＰ＝国内総生産の伸び率が、去年の同じ時期に比べて７．３％のプラスと５年半ぶりの低い水準となったほか、このところ消費や生産などの動きが弱くなっていることを示す経済指標が相次いで発表されています。
中国政府としては、政策金利の引き下げに踏み切ることで中小企業などへの貸し出しを促し、減速傾向が続く中国経済を下支えするねらいがあるとみられます。

(試譯文)

China’s central bank the "People's Bank of China" announced that from the 22nd (November) it would reduce respectively the lending rate of financial institutions and the basic deposit rate, after approximately 2 years and 4 months. It could be thought of having the aim to prop the economy amidst a slowing down Chinese economy.

According to an announcement of the "People's Bank of China", from the 22nd when a financial institution lent out funds to an enterprise, the basic money rate would be reduced by 0.4 % from the present 6 % of year to 5.6 %, depositor's basic yearly money rate would be reduced by 0.25 % from the present 3 % of year to become 2.75 % a year.

It was since July two years ago, approximately 2 years and 4 months, for China to lower its interest rates.

Against the background of a sluggish growth in the real estate investment, the rate of GDP= Gross Domestic Product this year from July to September, compared with the same time last year was a plus 7.3%, that was a low standard in 5 years six months. On top of that other economic indicators successively showed that the movement in both consumption and production was weakening recently.

Supposedly it could be considered that, for the Chinese government, the aim of the rate reduction policy was to promote lending toward small and medium enterprises; and, with the continuing slowing down tendency, to support the Chinese economy.

   I am interested to know the financial implications of China’s rate reduction policy.