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By Xia Bin

The People's Bank of China released the latest financial data on the 13th. An authoritative source told China News Service's National Affairs Express that financial support for key areas has remained stable and the credit structure continues to be optimized.

Since the beginning of this year, the central bank has continued to play the dual functions of the total amount and structure of monetary policy tools, continued to make efforts to do a good job in the "five major articles" of finance, and maintained a solid support for major strategies, key areas and weak links.

Data shows that at the end of July, medium- and long-term loans to the manufacturing industry increased by 16.9% year-on-year, among which medium- and long-term loans to high-tech manufacturing industries increased by 15.5% year-on-year; loans to "specialized, sophisticated, and innovative" enterprises increased by 15.0% year-on-year; inclusive small and micro loans increased by 17% year-on-year. The growth rates of the above loans are all higher than the growth rates of all loans in the same period.

Authoritative sources also mentioned that the financial sector has increased its support for the real estate sector. In order to support the stable and healthy development of the real estate industry and prevent the spread of risks in the real estate market from dragging down the macro-economy, the central bank launched a combination of real estate policies in May, taking pragmatic measures in reducing mortgage interest rates, lowering the down payment ratio for home purchases, and supporting real estate inventory reduction.

"The policy effects are gradually showing, and the activity of the real estate market has increased." An authoritative source bluntly stated that recently, the decline in key indicators such as the national commercial housing sales area, sales volume, new housing construction area, and funds in place for real estate developers have narrowed, the online signing area of ​​second-hand houses has increased year-on-year, and the transaction area in first-tier cities grew rapidly in June.

In addition, financial data showed that direct financing has accelerated and the macro financing structure has continued to improve. Authoritative sources said that in order to adapt to the needs of China's economic structural transformation and upgrading and high-quality development, the financial system should focus on properly grasping the relationship between the two largest financing markets, bonds and credit, promote the establishment of a diversified financing system, promote the accelerated development of direct financing, and consolidate the support for the real economy through multiple channels.

Industry experts also believe that as my country's economic structure accelerates its transformation and upgrading, and with the financial stock already large in size, the growth rate of the social financing scale indicator, which comprehensively reflects the financing support obtained by the real economy through various channels, has remained stable since the beginning of this year, against the backdrop of weak effective credit demand, showing a certain degree of resilience, and also reflecting the substitution effect between direct financing and bank credit.

Source: National Express

Editor: Zhuge Ruixin

Editor: Wei Xi