Renminbi loans increased by 1.06 trillion yuan in July

On December 12th, the People's Bank of China issued a financial statistics report for July. The report shows that at the end of July, the broad money (M2) increased by 8.1% year-on-year, RMB loans increased by 1.06 trillion yuan, and the stock of social financing increased by 10.7% year-on-year.

In July, the stock of social finance scale increased and the support to real economy increased. Data show that at the end of July, the stock of social financing scale was 214.13 trillion yuan, an increase of 10.7% over the same period last year. Among them, the balance of Renminbi loans to the real economy was 145.52 trillion yuan, an increase of 12.7% over the same period last year. From the structural point of view, the balance of RMB loans to the real economy at the end of July accounted for 68% of the stock of social financing scale in the same period, which was 1.3 percentage points higher than the previous year; the balance of RMB loans to the real economy accounted for 1%, which was 0.3 percentage points lower than the previous year. Renminbi loans increased and foreign currency loans decreased in July. By the end of July, the balance of domestic and foreign currency loans was 152.58 trillion yuan, an increase of 11.9% over the same period last year; the balance of RMB loans was 147.02 trillion yuan, an increase of 12.6% over the same period last month, a growth rate of 0.4 percentage points and 0.6 percentage points lower than that at the end of last month and the same period last year, respectively. In July, Renminbi loans increased by 1.06 trillion yuan, an increase of 397.5 billion yuan from the same period last year. In terms of sub-sectors, household sector loans increased by 511.2 billion yuan, including 69.5 billion yuan for short-term loans and 441.7 billion yuan for medium-term and long-term loans; 297.4 billion yuan for loans from non-financial enterprises and organs, including 219.5 billion yuan for short-term loans, 367.8 billion yuan for medium-term and long-term loans, 128.4 billion yuan for bill financing; and non-banking industry. Loans from financial institutions increased by 232.8 billion yuan. At the end of July, the balance of foreign currency loans was $806.4 billion, down 4.3% from a year earlier. Foreign currency loans fell by 12.3 billion US dollars in the same month, or 400 million US dollars less than the same period last year. The growth rates of M2 and M1 (narrow currency) have slowed down. At the end of July, the balance of M2 was 191.94 trillion yuan, an increase of 8.1% over the same period last month and the same period last year. The growth rate of M2 was 0.4 percentage points lower than that at the end of last month and the same period last year. The balance of M1 was 55.3 trillion yuan, an increase of 3.1% over the same period last year. The growth rate of M0 in circulation was 1.3 and 2 percentage points lower than that at the end of last month and the same period last year respectively. The net cash put in that month was 10.8 billion yuan.