中华时报
关闭

中华时报APP, 全新登场!

点击下载

China's new yuan loans hit 12.09 tln in H1 under policy support

China's new yuan-denominated loans hit 12.09 trillion yuan (about 1.73 trillion U.S. dollars) in the first half year, central bank data showed Friday, testifying policy support in healing the coronavirus-hit economy and businesses.

At the end of June, the balance of local and foreign currency loans stood at 171.32 trillion yuan, up 13 percent year on year, data from the People's Bank of China (PBOC) showed.

Newly added foreign currency loans in the first half year came in at 77.4 billion U.S. dollars, an increase of 53.6 billion U.S. dollars year on year.

In June alone, Chinese banks extended 1.81 trillion yuan in new yuan-denominated loans, a year-on-year increase of 147.4 billion yuan, beating forecasts.

A Reuters poll had predicted new yuan loans would rise to 1.80 trillion yuan in June, an increase of 1.48 trillion yuan from the previous month and compared with 1.66 trillion yuan a year earlier.

China's foreign exchange reserves expanded to 3.11 trillion U.S. dollars at the end of June.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 11.1 percent year on year to 213.49 trillion yuan at the end of June, PBOC data showed. M0, the amount of cash in circulation, increased 9.5 percent year on year to 7.95 trillion yuan by the end of June.

Newly added social financing hit 20.83 trillion yuan in H1

In the first half year, the country's newly added social financing, a measurement of funds the real economy receives from the financial system, came in at 20.83 trillion yuan, an increase of 6.22 trillion yuan year on year.

In June alone, the newly added social financing stood at 3.43 trillion yuan, an increase of 809.9 billion yuan year on year.

By the end of June, newly added outstanding loans in Chinese yuan to the real economy reached 12.33 trillion yuan, an increase of 2.31 trillion yuan, data showed.

The PBOC has introduced a slew of measures to help bolster small and medium-sized enterprises battered by the coronavirus pandemic, such as targeted cuts in reserve requirement ratios, special re-lending funds and extension of repayment of loans.

(CGTN)

Business & Economy