China News Agency, Beijing, November 10 (Reporter Xia Bin) According to data released by the People’s Bank of China on the 10th, RMB loans increased by 826.2 billion yuan (RMB, the same below) in October, an increase of 136.4 billion yuan year-on-year; at the end of October, broadly speaking The currency (M2) balance was 233.62 trillion yuan, a year-on-year increase of 8.7%, and the growth rate was 0.4 percentage points higher than the end of the previous month and 1.8 percentage points lower than the same period last year.

  The data released on the same day also showed that in October, the scale of social financing increased by 1.59 trillion yuan, 197 billion yuan more than the same period last year, and 721.9 billion yuan more than the same period in 2019; at the end of October, the stock of social financing was 309.45 trillion yuan. Yuan, a year-on-year increase of 10%.

  Liang Si, a researcher at the Bank of China Research Institute, said that in October, medium and long-term loans to the residential sector increased by 16.2 billion yuan year-on-year, ending the previous continuous decline in growth.

On the one hand, the financing environment in the real estate market has recently recovered, and the approval and release of housing enterprise development loans and residential mortgages has accelerated, which has led to a year-on-year increase in residential medium- and long-term loans.

However, overall, real estate sales did not show a significant rebound and still maintained a negative growth trend.

  Wen Bin, chief researcher of China Minsheng Bank, believes that, on the whole, the growth of credit and social financing stabilized in October, and the increase was slightly higher than expected, reflecting the increased financial support for the real economy.

However, from a structural point of view, the growth of medium and long-term loans by enterprises is not satisfactory. Although the issuance of government bonds has accelerated, it still falls short of market expectations.

  Liang Si said that from a follow-up perspective, if the issuance of special bonds is completed in November, the issuance scale of that month will exceed 900 billion yuan, which will bring certain support to social finance.

At the same time, as the end of the year approaches, fiscal expenditure speeds up, which will bring some support to M2.

However, considering that the epidemic will repeat again and corporate credit demand will be affected, it is unlikely that M2 will continue to rebound sharply.

It is expected that the growth rate of M2 and social financing will remain in the "8" and "10" range.