CCTV News: On March 14, the People's Bank of China released February financial data. Data shows that the scale of social financing continued to grow rapidly in February.

At the end of February, the stock of social financing was 417.29 trillion yuan, an increase of 8.2% year-on-year, continuing to maintain rapid growth. Experts said that the accelerated issuance of government bonds is the main factor supporting the rapid growth of social financing scale.

Wen Bin, chief economist of Minsheng Bank, said: "The pace of issuance of local government bonds has accelerated significantly. Among them, the issuance of nearly 800 billion yuan for replacement bonds used to resolve local debts issuance, exceeding one-third of the whole year last year, and more than 600 billion yuan higher than the issuance volume in January this year."

At the same time, the rapid growth of net financing of corporate bonds also has a certain supporting role in the scale of social financing.

Dong Ximiao, chief researcher of China Merchants Union, said: "Since the second half of last year, the interest rate of the bond market has been generally at a low level. Enterprises seized the opportunity to increase bond financing efforts, effectively reducing the overall financing costs."

February financial data released: Credit supports the real economy with great support. Data shows that the loan scale in February has grown reasonably, and the credit structure has shown many highlights, and credit supports the real economy with great support.

At the end of February, the balance of various RMB loans was 261.78 trillion yuan, an increase of 7.3% year-on-year. There are many highlights in the credit structure. From a structural perspective, the balance of inclusive small and micro loans was 33.43 trillion yuan, an increase of 12.4% year-on-year, and the balance of medium- and long-term loans in the manufacturing industry was 14.48 trillion yuan, an increase of 10.3% year-on-year. The growth rate of above loans was higher than the growth rate of various loans during the same period.

Dong Ximiao said: "From the loan data in February this year, loans in that month are still at a historically high level, and they maintain strong support for the real economy."

Experts said that after the issuance of local government special bonds is accelerated, short-term financing platforms may repay part of bank loans, which is reflected in the reduction of the data on this part of the existing loan. Wen Bin said: "But this is just a transformation of the capital structure. The financing support obtained by the real economy has not decreased. In addition, the loan of special bond replacement financing platform will also help local governments to alleviate the capital chain, reduce economic burdens, and support local governments to free up more funds to protect people's livelihood and support innovation."

In addition, the industry said that smoothing credit growth will also help the sustainability of the development of the real economy. From a full-year perspective, the stable credit growth at the beginning of the year is more in line with the financing needs of the real economy.

New measures to support private enterprises are introduced in the interbank bond market

The reporter learned from the China Interbank Market Dealers Association on the 14th that in order to optimize the bond financing environment for private enterprises, the Dealers Association issued the "Action Plan for Further Supporting the High-Quality Development of Private Enterprises in the Interbank Bond Market".

The Action Plan measures include: supporting private enterprises to issue science and technology innovation bonds, improving the convenience of green bond registration, and encouraging services for private enterprises in the silver economy to issue bonds in related fields of the elderly care industry.