According to PBOC statistics, as of end-Q2 2024, outstanding RMB loans issued by financial institutions increased by 8.8 percent year on year to RMB250.85 trillion, representing a rise of RMB13.26 trillion in H1 2024.

1.Loans to enterprises and public institutions saw steady growth

As of end-Q2 2024, outstanding RMB and foreign currency loans to enterprises and public institutions increased by 10.4 percent year on year to RMB168.05 trillion; the outstanding amount added by RMB11 trillion in H1 2024.

By loan tenure, short-term loans and bill financing recorded anoutstanding amount of RMB56.72 trillion, increasing by 7.4 percentyear on year; the outstanding amount increased by RMB2.82 trillionin H1 2024. Outstanding medium and long-term (MLT) loans grewby 12.3 percent year on year to RMB107.8 trillion; the outstandingamount increased by RMB8.01 trillion in H1 2024. By loan use, the outstanding amount of fixed asset loans rose by12.2 percent year on year to RMB70.65 trillion; the outstandingamount increased by RMB4.72 trillion in H1 2024. The outstandingamount of business loans grew by 10.6 percent year on year toRMB69.53 trillion; the outstanding amount rose by RMB5.17trillion in H1 2024.

2.Growth of MLT industrial loans, service sector loans and infrastructure sector loans maintained relatively fast

As of end-Q2 2024, MLT industrial loans in RMB and foreign currencies posted an outstanding amount of RMB23.73 trillion, rising by 17.5 percent year on year. This surpassed the overall loan growth by 9.2 percentage points, and the outstanding amount grew by RMB1.96 trillion in H1 2024. Specifically, outstanding MLT loans to heavy industries registered RMB20.28 trillion, increasing by 17.7 percent year on year, while outstanding MLT loans to light industries reached RMB3.45 trillion, rising by 16.5 percent year on year.

As of end-Q2 2024, MLT service sector loans in RMB and foreign currencies recorded an outstanding amount of RMB67.05 trillion, rising by 10.4 percent year on year. This surpassed the overall loan growth by 2.1 percentage points, and the outstanding amount grew by RMB4.49 trillion in H1 2024. Outstanding MLT service loans excluding real estate loans increased by 11.7 percent year on year. This surpassed the overall loan growth by 5.7 percentage points, an acceleration of 1.4 percentage points from end-2023.

As of end-Q2 2024, MLT infrastructure sector loans in RMB and foreign currencies recorded an outstanding amount of RMB40.13 trillion, rising by 11.7 percent year on year. This surpassed the overall loan growth by 3.4 percentage points; the outstanding amount grew by RMB2.6 trillion in H1 2024.

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Statistical Report on the Credit Structure of Financial Institutions (Q2 2024)