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New Bank Loans of RMB12.2 Trillion in the First Ten Months

More Investment in Manufacturing, Strategic Emerging Industries and Livelihood

Submit Time:03-01-2018 | Zoom In | Zoom Out

Author: | Source:People's Daily (December 4, 2017, p. 02)


It is reported from the recent key work briefing of the China Banking Regulatory Commission (CBRC) that the CBRC has taken an array of regulatory measures this year, in order to guide the banking industry to return to its original mission and focus on its main business. Thus, the increment and growth rate of loans rose sharply while the growth rate of interbank wealth management, off-balance sheet and entrusted loans decreased significantly. In the first ten months of this year, new bank loans registered RMB12.2 trillion, an increase of RMB1.5 trillion year on year, and saw a year-on-year increase of 35.2 percentage points as to its proportion in new assets. In addition, the growth rate of wealth management products dropped to 4.7%. The cumulative net decrease of interbank wealth management amounted to RMB2.7 trillion. 

Thanks to the optimization of loan structure, loans were more invested in manufacturing and strategic emerging industries, as well as main areas of livelihood. According to statistics, the growth rate of loans in manufacturing increased by 1.6 percentage points year on year; loans in strategic emerging industries and cultural industries increased by RMB243.4 billion and RMB62.4 billion year on year, respectively; loans in small and micro enterprises, affordable housing project, agriculture and infrastructure increased by 15.4%, 44.2%, 10.8% and 16.4% year on year, respectively. In the meantime, frequent market chaos has been curbed. 

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