Xinhua News Agency, Beijing, February 16 (Wu Yu, Tang Jianhui) The People's Bank of China recently released a report showing that in 2020, my country's financial institutions will increase loans reasonably, with optimized credit structure, and loan interest rates will drop significantly. The weighted average interest rate of loans hit a new low since statistics.

  According to the "China Monetary Policy Implementation Report for the Fourth Quarter of 2020" issued by the People's Bank of China, in December 2020, the 1-year loan market quoted interest rate (LPR) dropped by 0.3 percentage points from the same period last year to 3.85%. A decrease of 0.15 percentage points to 4.65%; the weighted average loan interest rate was 5.03%, a year-on-year decrease of 0.41 percentage points, a record low since statistics.

  According to the report, my country’s renminbi loan balance will be 172.7 trillion yuan in 2020, a year-on-year increase of 12.8%, credit support for the real economy has been strengthened, and the pace is reasonable.

At the same time, the credit structure has been continuously optimized, and medium and long-term loans to the manufacturing industry and loans to small and micro enterprises have grown rapidly.

  Data show that by the end of 2020, China’s enterprise (institution) unit loans increased by 12.2 trillion yuan from the beginning of the year, an increase of 2.7 trillion yuan year-on-year; the growth rate of mid- and long-term loans in the manufacturing industry was 35.2%, and the growth rate increased for 14 consecutive months; The outstanding balance of small and micro loans was 15.1 trillion yuan, a year-on-year increase of 30.3%; support to 32.28 million small and micro business entities, a year-on-year increase of 19.4%.