CICC: The new social financing in July was less than expected, and the increase was significantly lower than that of the same period last year – yqqlm

Securities Times e company news, CICC research report believes that the new social financing in July was less than expected, and the increase was significantly lower than that of the same period last year. The newly added social financing in July was 756.1 billion yuan, which was significantly lower than the market expectation of 1.4 trillion yuan, and a year-on-year decrease of 319.1 billion yuan. This time, the monthly increment of social financing hit a new low since July 2016. Among them, the new credit in July was 679 billion yuan, which was significantly lower than the market expectation of 1.1 trillion yuan, and 401 billion yuan less than the same period last year. Loans to entities decreased significantly year-on-year, and nearly 80 percent became bill financing. Among all the new credits, the new loans to the real sector were 408.8 billion yuan, a decrease of 403.3 billion yuan compared with the same period last year, of which bill financing was 313.6 billion yuan, accounting for 76% of all new loans to entities, and all 46% of new loans. At the same time, the medium and long-term loans to residents decreased by 248.8 billion yuan year-on-year, and the medium and long-term loans to enterprises decreased by 147.8 billion yuan year-on-year.