China News Service, Beijing, October 11 (Reporter Xia Bin) According to data released by the People's Bank of China on the 11th, at the end of September, the balance of broad money (M2) was 262.66 trillion yuan (RMB, the same below), a year-on-year increase of 12.1%. At the end of last month, it was 0.1 percentage points lower and 3.8 percentage points higher than the same period of last year; the balance of narrow money (M1) was 66.45 trillion yuan, up 6.4% year-on-year, and the growth rate was 0.3 percentage points and 2.7 percentage points higher than that at the end of last month and the same period of the previous year respectively.
The latest financial statistics released on the same day also showed that in the first three quarters of this year, RMB loans increased by 18.08 trillion yuan, a year-on-year increase of 1.36 trillion yuan.
By sector, household loans increased by 3.41 trillion yuan, of which short-term loans increased by 1.09 trillion yuan, medium and long-term loans increased by 2.32 trillion yuan; corporate (institution) loans increased by 14.48 trillion yuan; non-banking financial institutions loans increased by 14.48 trillion yuan An increase of 22.4 billion yuan.
In September, RMB loans increased by 2.47 trillion yuan, a year-on-year increase of 810.8 billion yuan.
Wen Bin, chief economist at China Minsheng Bank, said market liquidity continued to remain reasonably ample.
On the one hand, under the continuous force of the incremental policy, the amount of credit issuance exceeded expectations, and the derivative effect of deposits increased significantly; on the other hand, the large fiscal expenditure in September and tax cuts and fee reductions promoted the transfer of fiscal deposits to M2, which helped the market. Improved liquidity, coupled with a super-seasonal increase in non-standard financing, also supported M2.
In addition, according to preliminary statistics, the cumulative increment of social financing in the first three quarters of 2022 is 27.77 trillion yuan, 3.01 trillion yuan more than the same period of the previous year.
Among them, RMB loans to the real economy increased by 17.89 trillion yuan, a year-on-year increase of 1.06 trillion yuan.
Pang Ming, chief economist and head of research at Jones Lang LaSalle Greater China, pointed out that the new social financing in September was basically the same as the same period last year.
In the future, the accelerated recovery of the macro economy and the improvement of the economic prosperity of the real estate industry will be conducive to the implementation of credit liberalization, the accelerated recovery of social financing growth, the maintenance of "weak repairs", the maintenance of stable and moderate growth of money and credit, and the support of stable economic growth.
At the loan level, RMB loans to the real economy are one of the main factors supporting the year-on-year increase in new social financing and RMB loans.
However, the structural difficulties of loans have not been eliminated, and it is still necessary to wait patiently for the restoration of medium and long-term loans to residents.
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