In the 2012 government report on the two sessions, the GDP growth rate is expected to be reduced to 7.5% this year, the first time in 8 years, less than 8%.

GDP growth rate is expected to decline, indicating that the policy will focus on adjusting the growth mode that relies too much on investment and exports and paying attention to improving the quality of economic development and achieving healthy and sustainable development.

In the first quarter, GDP will continue downward trend in the two quarter of last year, and the overall industrial production, foreign trade and import and export will grow at GDP or 8.4% in the first quarter.

This year

In the first quarter, interbank liquidity eased month by month, and the central bank adopted the open market reverse repurchase, stop issuing central bank tickets and lowering the quota to supplement the liquidity of the interbank market.

However, the new credit is constrained by the loan to deposit ratio and the slowdown in demand. The cumulative growth in 1-2 months is the lowest point in the 09 years.

We expect the two quarter.

From the credit situation, platform lending and SME credit support or improve credit conditions.

At present, the private lending market is surging, and "drinking poison to quench thirst" has been unsustainable. Policies to support the development and financing of small and medium-sized enterprises are being promoted comprehensively, and the credit level of SMEs is expected to gradually improve.

This year, the CBRC combed the platform loan again, indicating that the CBRC had a "lowering the old control new" attitude on the total loan volume.

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