In the first half of the year, RMB loans in China increased by 12.76 trillion yuan, an increase of 667.7 billion yuan year-on-year.
Beijing, July 10 (Reporter Jiang Yong) According to World Finance, the economic voice of the Central Radio and Television General Station, the central bank released the Financial Statistics Report for the First Half of 2021 on July 9. In June, the growth rate of broad money (M2), credit and social financing was strong, which was better than market expectations on the whole. The data shows that China’s economy continues to recover well.
In terms of money supply, at the end of June, the balance of broad money (M2) was 231.78 trillion yuan, up 8.6% year-on-year, and the growth rate was 0.3 percentage points higher than that at the end of May.
In terms of credit, RMB loans increased by 12.76 trillion yuan in the first half of the year, an increase of 667.7 billion yuan over the same period last year. At the end of June, the balance of RMB loans was 185.5 trillion yuan, a year-on-year increase of 12.3%, and the growth rate was 0.1 percentage point higher than that at the end of May.
In terms of social financing scale, the stock of social financing scale at the end of June was 301.56 trillion yuan, up 11% year-on-year. In June, the scale of social financing increased by 3.67 trillion yuan, 200.8 billion yuan more than the same period of last year.
For the main financial data in the first half of the year, Wen Bin, chief researcher of Minsheng Bank, explained: "Overall, the growth of money, credit and social financing in June exceeded market expectations, reflecting the increased financial support for the real economy. In June, the growth rate of M2 rebounded by 0.3 percentage points to 8.6%, and the enhancement of credit derivative ability was the main reason for the rebound of M2. In June, RMB loans increased by 2.12 trillion yuan, which was not only higher than the new scale in May, but also higher than the same period of last year, which improved the currency’s derivative ability. "
People’s Bank of China (Source: CFP)
In terms of sectors, household loans increased by 4.58 trillion yuan, of which short-term loans increased by 1.15 trillion yuan and medium-and long-term loans increased by 3.43 trillion yuan; Loans from enterprises and institutions increased by 8.37 trillion yuan, of which short-term loans increased by 1.23 trillion yuan and medium-and long-term loans increased by 6.62 trillion yuan.
According to industry insiders, from the structural point of view, corporate loans have increased more, and both short-term and medium-and long-term credit of enterprises have improved. On the one hand, it shows that corporate credit demand is strong, on the other hand, it shows that banks have increased their support for the real economy.
Xia Dan, a senior researcher at the Financial Research Center of Bank of Communications, said: "In June, the tight credit situation generally eased, which was due to the fact that the transaction volume of the property market did not shrink significantly. We observed that the transaction volume of commercial housing in 30 large and medium-sized cities in June increased compared with that in May, and the demand for medium and long-term loans of enterprises was still not weak, which made the new medium and long-term loans of residents and enterprises both firm. "
On Friday, the central bank announced that it would cut the deposit reserve ratio of financial institutions by 0.5 percentage points on July 15th, releasing about 1 trillion yuan of long-term funds. This move will effectively increase the long-term stable sources of funds for financial institutions to support the real economy, and guide financial institutions to actively use the funds for RRR reduction to increase support for small and micro enterprises.
Wen Bin analyzed: "This RRR cut has provided banks with a long-term stable source of funds, which is conducive to the steady growth of the real economy and cost reduction. It is expected that in the second half of the year, finance will form greater support for the real economy, and the growth rate of M2 and social finance may improve, which basically matches the nominal economic growth level. "