Similar description, the central bank in different places several times mentioned. For example, Sun Guofeng, director of the Central Bank's fiscal policy department, has made several statements saying that the benchmark deposit interest rate is the "ballast" in our country's annual interest rate management system and plays a key role in maintaining all the normal disciplines of the deposit sales market and avoiding irrational behavior market competition, so it should be preserved on a long-term basis.

The annual interest rate on deposits has a strong external economy, and the discipline of the deposit market demand concerns the legitimate rights and interests of many people. In recent years, the Central People's Bank has specifically guided the bond yield markup self-restraint system to enhance deposit management methods, standardize deposit product innovation, and maintain maintenance of deposit market demand discipline, obtaining positive and active results. This time the central bank again strictly implement the benchmark deposit interest rate to be preserved in the long term, I think at least two levels of efficacy will appear.

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First of all, it is conducive to maintaining the discipline of the deposit market demand and guarding the "money bag" of many people.

The central bank previously released the 2020 financial sector statistics report, the RMB deposits for the whole year of 2020 raised 19.65 trillion, compared to the same period increased by 4.28 trillion. Among them, the deposits of residents were raised by 11.3 trillion, deposits of non-financial enterprises by 6.57 trillion, financial deposits by RMB 393.1 billion, and deposits of non-commercial bank financial enterprises by 1.06 trillion.

How to ensure the profitability of many people when coping with more than 11 trillion resident deposits? It is necessary to keep the benchmark deposit rate stable, so that the property income of the people can be ensured.

We have been focusing on the need to "accelerate the construction of a new development layout with China's large circulation system as the main body of the act and China's international circulation system promoting each other". At the same time, we see, in order to expand domestic demand, a series of measures to promote consumption released one after another. How to make customers can consume, willing to consume, dare to consume? At one of the key levels, it is to increase the magnitude of promoting many people's income generation, and to smoothly enhance the consumption intention and working ability of the big people. The benchmark deposit interest rate is maintained for a long time, which undoubtedly gives the people an established estimate and smooths out the income estimate of the big people for this matter.

Secondly, it is conducive to the prevention of financial risks and the smooth transmission system of fiscal policy.

Risk prevention is the eternal theme style of the financial industry. A few days ago held 2021 central people's bank work report clearly put forward, constantly prevent and solve financial risks. Enhance the risk inventory and improve the risk resolution. Sound deposit social insurance system basic construction and organization.

For the central bank "deposit benchmark interest rate to long-term preservation" statement, I think it is based on the key to prevent financial risks to consider. If financial institutions do not return to the local source of service projects, to open foreign deposits in a variety of ways, or release a variety of non-standard deposit product innovation, will certainly increase the risk. This is bad for many people, for the financial institutions themselves, for the financial industry all.

At the same time, the stability of the benchmark deposit rate is also conducive to the stability of the cost end of financial institutions, thus enhancing the current policy of annual interest rates on bank loan rates, so that the whole process of transmission of "loan bond yields - LPR - corporate bank loan rates" is smoother and more reasonable.

Keeping a good risk moral bottom line is a prerequisite for all financial industry work, and is the root of financial information to serve the real economy of China. It should be said that in recent years, in the prevention and resolution of risk level, according to persistent and unremitting efforts, the financial risk action has obtained key research results. However, in the future, it is still necessary to make further efforts to give a more lasting and solid assurance for the prevention and resolution of financial risks. This will have to make the risk may be more comprehensive, the countermeasures prepared in advance more adequate, so that the moral bottom line of guarding against systemic financial risks more confident.