Macro-Finance Salon (No. 126): Index on Real-Time Monitoring of Changes in Corporate Financing Conditions

On the afternoon of July 22, the Macro-Finance Salon (No. 126) was held at Mingde Building, Renmin University of China. Wang Bin, IMI Research Fellowand Chief Macroeconomy Analyst in the Department of Investment Banking of ICBC, gave a keynote speech entitled “Building an Index Researchon Real-Time Monitoring of Changes in Corporate Financing Conditions”. Zhong Zhengsheng, Chairman and Chief Economist of Monita Research and Managing Director of Caixin Think Tank, along with Chen Jing, Liu Hongwei, Tian Xinming, Yao Yueyue and other IMI research fellows attended the salon and participated in the seminar. Zhang Yu, IMI Research Fellowand Chief Macro Analyst of Hua Chuang Securities chaired the meeting.  Dr. Wang Bin introduced the index reflecting the changes in the overall situation of corporate finance. His speech can be divided into four parts. The first part is an introduction to the index. He pointed out that data is designed for real-time monitoring. It is more timely and multi-dimensional than other external data, so it can monitor real-time changes in corporate financing conditions from the overall, regional and industry levels. The second part is the relationship between the constructed index and the current macro policy data, such as GDP, interbank offered interest rate and so on. The third part is to analyze the financing index based on four aspects, including industry, enterprise size, region and financing period, aka the sub-item of the financing index. The fourth part is index application and prospects. He pointed out that in the future, the index can provide products and services (including index, research or information) to government departments such as regulatory authorities, non-financial companies such as manufacturing companies, commercial banks, and non-bank financial institutions. After the keynote speech, it was the discussion session. The guests discussed the impact of real-time data updates, different channels of corporate finance, types of corporate ownership, and changes in sample companies in different periods. Dr. Wang’s research was highly praised by the guests present, and they were looking forward to the future application and prospects of the index.

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