CCTV News (News Network): On January 14, the State Council Information Office held a series of press conferences on "The Effectiveness of China's High-Quality Economic Development". Relevant persons in charge of the People's Bank of China and the State Administration of Foreign Exchange introduced the relevant situation of financial support for high-quality economic development. In 2024, the scale of social financing in my country maintained a reasonable growth, strongly supporting the recovery and improvement of the real economy.
A relevant person in charge of the People's Bank of China introduced that at the end of December 2024, the stock of social financing was 408.34 trillion yuan, of which the balance of RMB loans issued to the real economy was 252.53 trillion yuan, an increase of 7.2% year-on-year. The credit structure is constantly being optimized, and medium- and long-term loans for manufacturing, specialized and new enterprise loans, and inclusive small and micro loans have grown rapidly, continuing to be higher than the growth rate of all loans during the same period.
Loan interest rates have steadily declined. In December, the interest rate for newly issued corporate loans was about 3.43%, and the interest rate for newly issued personal housing loans was about 3.11%, down 0.36 percentage points and 0.88 percentage points respectively year-on-year.
my country's cross-border trade and investment are more active. In 2024, the total foreign-related income and expenditure of non-bank sectors such as enterprises and individuals was US$14.3 trillion, an increase of 14.6%, setting a record high. The balance of foreign exchange reserves is stable at more than US$3.2 trillion, and the RMB exchange rate remains basically stable at a reasonable equilibrium level.
