Original title: China’s August RMB loans increased by 1.22 trillion yuan, M2 growth rate dropped by 0.1 percentage point from the previous month
China News Service, Beijing, September 10 (Reporter Xia Bin) According to data released by the People’s Bank of China on the 10th, RMB loans increased by 1.22 trillion yuan (RMB, the same below) in August, a year-on-year decrease of 63.1 billion yuan; at the end of August, The balance of broad money (M2) was 231.23 trillion yuan, an increase of 8.2% year-on-year, and the growth rate was 0.1 and 2.2 percentage points lower than the end of the previous month and the same period last year, respectively.
The data released on the same day also showed that the increase in social financing in August was 2.96 trillion yuan, 629.5 billion yuan less than the same period last year. Among them, RMB loans to the real economy increased by 1.27 trillion yuan, a year-on-year decrease of 148.8 billion yuan.
Zhao Wei, chief economist of Kaiyuan Securities, said that the main reason for the weakening of loans is the drag of medium and long-term loans, and the impulse of bills has become more prominent.
Specifically, in August, medium and long-term loans increased by 334.9 billion yuan year-on-year. Among them, medium- and long-term loans to enterprises decreased by 203.7 billion yuan year-on-year, which doubled the rate of decline from the previous month, while residential medium- and long-term loans continued to shrink, with a year-on-year decrease of 1312. Short-term loans increased by 114.9 billion yuan year-on-year, and bill financing increased significantly year-on-year, reaching 448.9 billion yuan.
Wen Bin, chief researcher of China Minsheng Bank, believes that, on the whole, the growth of currency and credit expansion has slowed down, while the demand for effective financing has weakened. It is necessary to do a good job of cross-cyclical adjustment of macro policies, increase efforts to boost domestic demand, and stabilize market expectations. Enhance corporate confidence.
He further stated that it is necessary to maintain a reasonable growth in the scale of credit, increase structural policies and credit structure adjustments, make good use of the special re-lending policies that have been introduced, and increase investment in inclusive finance, green development, technological innovation and other fields, as well as small, medium and micro enterprises. The support of market entities such as enterprises and individual industrial and commercial households ensures that the economy operates within a reasonable range. (over)
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