Manufacturing loan growth rate hits a nine-year high

The first quarter of this year is a pressure period for the real economy to be affected by the COVID-19. During this period, the financial system significantly increased its credit support for the real economy. In the first quarter, various loans increased by 7.1 trillion yuan, the highest level of the quarter. At the same time as the total credit supply has significantly increased, the credit structure has been optimized, and the pertinence and effectiveness of credit support have been enhanced.

In the first quarter, industries heavily affected by the epidemic received strong support in the fight against the epidemic. Data shows that the growth rate of loans in the health and social work industries has significantly increased. At the end of March, the balance of loans in the health and social work industry was 617.1 billion yuan, with a growth rate of 17.1%, which was 7.2 percentage points higher than the same period last year. Credit fully supports the social fight against the epidemic.

The wholesale and retail industry, transportation, warehousing, and postal industry are also greatly affected. In the first quarter, the growth rate of loans in the wholesale and retail industry increased rapidly. At the end of March, the balance of loans in the wholesale and retail industry was 9.52 trillion yuan, with a growth rate of 8.4%, which was 5.8 percentage points higher than the same period last year. In the first quarter, loans for transportation, warehousing, and postal services grew rapidly. At the end of March, the balance of loans for transportation, warehousing, and postal services was 14.1 trillion yuan, a year-on-year increase of 13.3%, which was 3.5 percentage points higher than the same period last year.

More medium and long-term loans have flowed into the manufacturing, infrastructure, and service industries, "said a person in charge of the People's Bank of China. The growth rate of medium and long-term loans invested in the manufacturing industry has reached a new high since April 2011, and the medium and long-term loans in high-tech manufacturing continue to grow rapidly.

From the data, as of the end of March, the balance of medium and long-term loans in the manufacturing industry was 4.15 trillion yuan, a year-on-year increase of 16.7%; Among them, the balance of medium and long-term loans in high-tech manufacturing industry was 840.2 billion yuan, a year-on-year increase of 39.2%. In the first quarter, medium and long-term loans in the manufacturing industry increased by 269.5 billion yuan, an increase of 95.6 billion yuan year-on-year.

During the same period, the supply of infrastructure loans increased significantly. At the end of March, the balance of medium and long-term loans in the infrastructure industry was 22.96 trillion yuan, a year-on-year increase of 10.5%, which was 1.8 percentage points higher than the same period last year. In the first quarter, medium and long-term loans in the infrastructure industry increased by 974.9 billion yuan, an increase of 131.2 billion yuan year-on-year.

It is worth mentioning that the growth rate of medium and long-term loans in the service industry (excluding real estate) has increased. At the end of March, the balance of medium and long-term loans in the service industry was 29.5 trillion yuan, a year-on-year increase of 14%, which was 3.8 percentage points higher than the same period last year. In the first quarter, medium and long-term loans in the service industry increased by 1.54 trillion yuan, an increase of 306.3 billion yuan year-on-year.

The targeted credit support is also significantly improving. The relevant person in charge of the central bank stated that the scale and coverage of small and micro loans have quickly resumed an upward trend, and it is expected that the benefits to small and micro enterprises will continue to increase.

From the data, it can be seen that inclusive small and micro loans have resumed an upward growth trend. At the end of March, the balance of inclusive small and micro loans was 12.4 trillion yuan, a year-on-year increase of 23.6%. This not only reversed the decline in growth rate in January and February, but also increased the growth rate by 4.5 percentage points compared to the same period last year.

Small and micro loans not only increase in volume, but also significantly expand the coverage of support. At the end of March, inclusive small and micro loans supported 27.87 million small and micro business entities, a year-on-year increase of 22.2%; In the first quarter, there was an increase of 890000 households, of which 710000 households increased in March, a significant increase from the 180000 households in January to February, showing a significant rebound in recovery growth.

Information source: China Government website

Editor He Yang of this website/Organizing