Financial data from the Yangtze River Delta in July, credit demand has recovered – Xinhua English.news.cn

On the 24th, the reporter learned from relevant departments that the financial data of the Yangtze River Delta in July was released, and both deposits and loans achieved rapid growth. Data show that as of the end of July, the year-on-year growth rate of RMB loans and deposits in the Yangtze River Delta region reached 14.3% and 13.1% respectively. In particular, in July, medium and long-term corporate loans increased by 115 billion yuan, indicating that demand for credit has recovered.

With the support of a series of relief policies to help enterprises, the Yangtze River Delta region has increased its credit supply. As of the end of July, the balance of loans in local and foreign currencies in the Yangtze River Delta was 54.77 trillion yuan, a year-on-year increase of 14.1%; the balance of RMB loans was 53.49 trillion yuan, a year-on-year increase of 14.3%.

In July alone, RMB loans in the Yangtze River Delta region increased by 228.8 billion yuan, a decrease of 19.4 billion yuan year-on-year. In terms of different sectors, loans to the household sector increased by 43.7 billion yuan, a decrease of 81.1 billion yuan year-on-year, of which short-term loans increased by 6.6 billion yuan and medium and long-term loans by 37.1 billion yuan.

Mortgage remains an important stimulus. In January this year, the mortgage interest rate of more than 5 years was cut by 5 basis points, from 4.65% to 4.6%, and it remained until May; the mortgage interest rate in May was reduced again by 15 basis points to 4.45%; August 22 , down 15 basis points again to 4.3%. From this point of view, since the beginning of this year, the LPR with a period of more than 5 years has been reduced by 35 basis points, while the LPR with a period of more than 1 year has been reduced by a total of 15 basis points.

“Although the policy in August cannot reflect the previous trend, the policy has a leading role and has also stimulated the willingness of many buyers to buy.” An analyst at Soochow Securities said.

At the same time, loans to enterprises (institutions) in the Yangtze River Delta region are also increasing simultaneously. An increase of 153.2 billion yuan in July, an increase of 46.4 billion yuan year-on-year, of which, short-term loans decreased by 61.4 billion yuan, medium and long-term loans increased by 115 billion yuan, and bill financing increased by 105.2 billion yuan; non-banking financial institutions Loans increased by 21.3 billion yuan, year-on-year An increase of 5.7 billion yuan.

In addition to the increase in loans, the scale of deposits in the Yangtze River Delta region has grown simultaneously. As of the end of July, the balance of deposits in domestic and foreign currencies was 66.70 trillion yuan, up 12.7% year-on-year; the balance of RMB deposits was 64.15 trillion yuan, up 13.1% year-on-year, and the growth rate was 1.1 percentage points higher than the end of the previous month.

The data also showed that RMB deposits in the Yangtze River Delta region increased by 321.3 billion yuan in July, a year-on-year increase of 572.2 billion yuan. Among them, household sector deposits decreased by 93.3 billion yuan, a decrease of 271.2 billion yuan year-on-year; non-financial corporate deposits decreased by 315.7 billion yuan, a year-on-year decrease of 207.6 billion yuan; fiscal deposits increased by 187 billion yuan, a year-on-year decrease of 109.1 billion yuan; non-bank deposits The deposits of industrial financial institutions increased by 466.5 billion yuan, a year-on-year increase of 139.8 billion yuan.

It is understood that at present, all departments of the three provinces and one city will implement the previously introduced policies and measures to help enterprises and stabilize growth, continue to increase support for weak links in the real economy and key emerging areas, and accelerate the recovery of domestic demand.

Regarding the financial field, the Bank of China Research Institute pointed out that the Yangtze River Delta region has a large economy, high development quality, important economic status, and a solid financial foundation. However, in terms of integrated high-quality development, there are still obstacles and bottlenecks in the supporting role of the financial system, which are manifested in insufficient supply of precision financial products, insufficient smooth operation of systems and mechanisms, and the layout of the regional financial system needs to be optimized. In supporting the integrated and high-quality development of the Yangtze River Delta, the financial system should continue to deepen the region’s function and role in integrating with the world, demonstrating the national function and role, in line with world financial standards, and promoting balanced regional development. The service focus will be on resolving the problem of difficult credit reporting for small, medium and micro enterprises, and form advanced experience that can be replicated and promoted nationwide. At the same time, we should focus on giving play to the leading role of central enterprises, give full play to the professional advantages of central financial enterprises and the characteristics of central entity enterprises covering a wide range of industries, and accelerate the accumulation of financial factors in the Yangtze River Delta region.

Xinhua Daily, Junction reporter Chen Cheng

Image source: Visual China