CCTV News (News Network): The latest data released by the People's Bank of China on February 14 showed that in January this year, the total financial volume continued to maintain reasonable growth and its support for the real economy was solid.
Data shows that at the end of January, the balance of broad money M2 was 318.52 trillion yuan, an increase of 7% year-on-year, and the growth rate was basically stable; in January, the increase in social financing scale was 7.06 trillion yuan, the highest level in the same period in history. RMB loans increased by 5.13 trillion yuan.
Since this year, credit issuance has also shown many highlights. Inclusive small and micro loans and medium- and long-term loans in manufacturing increased by 12.7% and 11.4% year-on-year respectively, both higher than the growth rate of all loans. Financial institutions in many places such as Hebei, Tianjin, and Zhejiang have used innovative products such as "Technology Cloud Loan" and "Science and Innovation Loan" to continue to increase financial support for technology companies.
In January, the weighted average interest rate of newly issued corporate loans was about 3.4%, a year-on-year decrease of about 0.4 percentage points, at a historical low. The People's Bank of China said that the moderately loose monetary policy this year will continue to increase credit supply and continue to consolidate the positive trend of economic recovery.
