China News Agency, Beijing, April 12 (Reporter Xia Bin) The financial statistics for the first quarter of 2021 released by the People's Bank of China on the 12th show that at the end of March, the balance of China's broad money (M2) was 227.65 trillion yuan (RMB, the same below). A year-on-year increase of 9.4%, the growth rate was 0.7 percentage points lower than the end of last month and the same period last year.

In the first quarter, China's net cash injection was 222.9 billion yuan; RMB loans increased by 7.67 trillion yuan, an increase of 574.1 billion yuan year-on-year.

  In addition, preliminary statistics show that the stock of social financing in China at the end of March was 294.55 trillion yuan, an increase of 12.3% year-on-year; the cumulative increase in social financing in the first quarter was 10.24 trillion yuan, 873 billion yuan less than the same period last year.

  Ruan Jianhong, director of the Department of Investigation and Statistics of the Central Bank and spokesman for the press, said that from a structural point of view, the credit of financial institutions is stable and the financing of the capital market has increased substantially.

The bond market grew less when the base was relatively high last year. Generally speaking, the growth of the social financing scale remained stable.

  Sun Guofeng, Director of the Monetary Policy Department of the Central Bank, specifically mentioned that in terms of interest rates, the corporate loan interest rate in February 2021 was 4.56%, a decrease of 0.76 percentage points from July 2019 before the reform, the lowest level since statistics.

The overall financing costs of small and micro enterprises have been steadily declining, which has strongly supported the real economy.

  "In the next step, we must adhere to the concept of cross-cycle design, take current and long-term into consideration, maintain the continuity, stability, and sustainability of macroeconomic policies, maintain a flexible, precise, reasonable and appropriate monetary policy, and maintain the growth rate of money supply and the scale of social financing. Basically match the nominal economic growth rate. Increase support for key areas and weak links of the national economy, ensure that the comprehensive financing costs of small and micro enterprises are steadily reduced, promote the stable and healthy operation of the economy, and promote high-quality economic development." Sun Guofeng Say.

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