CCTV News (News Network): The State Council Information Office held a press conference on July 15. Data released by the People's Bank of China showed that in the first half of this year, the total financial volume grew reasonably and the financial system provided solid support to the real economy.
Data show that the total financial volume increased reasonably in the first half of the year.At the end of June, the balance of broad money (M2) increased by 8.0% year-on-year, and the growth rate continued to be higher than the nominal GDP growth rate.In the first half of the year, RMB loans increased by 10.72 trillion yuan, and bond financing increased by 8.51 trillion yuan. The proportion of bond financing increased, and the financial system provided solid support to the real economy.
While the total amount is growing, more credit funds in the first half of the year flowed to key areas and weak links such as technological innovation and small and micro enterprises.At the end of June, the balance of Puhui small and micro loans increased by 8.3% year-on-year, and the balance of industrial medium and long-term loans increased by 5.9% year-on-year, both higher than the growth rate of all loans.
Comprehensive social financing costs are at historically low levels.In June, the average interest rate of newly issued corporate loans was about 3.0%, about 20 basis points lower than the same period last year; the interest rate of new personal housing loans was about 3.1%, basically the same as the same period last year.
In the first half of the year, the RMB exchange rate rose steadily.At the end of June, the RMB appreciated against a basket of currencies by 4.7% from the end of the previous year and by 3% against the US dollar.The 10-year Treasury bond yield is running around 1.73%.Financial markets operate smoothly.
