Perspective on Financial Data in the First Half of the Year, Continued Increase in Support for the Real Economy, Social | Financial | Economic

CCTV News: The People's Bank of China released financial statistics for the first half of the year yesterday, which showed a significant rebound in credit disbursement in June.

At the end of June, the balance of broad money was 287.3 trillion yuan, a year-on-year increase of 11.3%. In the first half of the year, RMB loans increased by 15.73 trillion yuan, an increase of 2.02 trillion yuan year-on-year. From a structural perspective, corporate unit loans increased by 12.81 trillion yuan, accounting for 81.44% of the increase in RMB loans and being the main contributor to the growth of RMB loans.

Dong Ximiao, a researcher at the Financial Research Institute of Fudan University, said that credit allocation has been pushed forward, effectively meeting the financing needs of the real economy and providing strong support for macroeconomic recovery and recovery.

From a single month perspective, the newly added credit in June significantly rebounded, reaching a new high in the same period in history. In June, RMB loans increased by 3.05 trillion yuan, an increase of 229.6 billion yuan year-on-year.

Wen Bin, Chief Economist of Minsheng Bank: Since June, the countercyclical adjustment policy has been strengthened, and the central bank's interest rate cut has stimulated investment and production demand. With the continued guidance and support of policies in the fields of manufacturing and infrastructure, long-term loans for enterprises remain an important driving force for new credit.

In addition, data shows that RMB deposits increased by 20.1 trillion yuan in the first half of the year, an increase of 1.3 trillion yuan year-on-year.

The increase in social financing scale in the first half of the year was 21.55 trillion yuan

The data released by the People's Bank of China also shows that the cumulative increase in social financing scale in the first half of 2023 was 21.55 trillion yuan, and the financial support for the real economy continued to increase.

In the first half of 2023, the cumulative increase in social financing scale was 21.55 trillion yuan, which is 475.4 billion yuan more than the same period last year. From a structural perspective, RMB loans issued to the real economy in the first half of the year accounted for 72.4% of the social financing scale during the same period, a year-on-year increase of 7.8 percentage points.

Dong Ximiao, a researcher at the Financial Research Institute of Fudan University: In the increase of social financing scale, RMB loans are the main contribution. In June, financial data bottomed out and rebounded, indicating that with the successive introduction of policy measures to support the sustained economic recovery, market confidence and expectations have rebounded, and financing demand has been repaired.

At the end of June, the stock of social financing scale was 365.45 trillion yuan, a year-on-year increase of 9%. Among them, the balance of RMB loans issued to the real economy was 228.86 trillion yuan, a year-on-year increase of 11.2%.

Wen Bin, Chief Economist of Minsheng Bank: Policy acceleration will drive stable credit expansion in the second half of the year, further boost market confidence, stimulate endogenous investment and consumer demand, and consolidate the foundation of steady economic recovery.

In the first half of the year, the trading volume of the national futures market increased by 29.71%

The latest statistical data released by the China Futures Industry Association shows that in the first half of the year, the cumulative trading volume of the national futures market was 3.951 billion hands, a year-on-year increase of 29.71%.

According to the statistical data provided by the China Futures Industry Association, the cumulative trading volume of the national futures market from January to June was 3.951 billion hands, with a cumulative trading volume of 262.13 trillion yuan, an increase of 29.71% and 1.80% year-on-year, respectively.

Jiang Hongyan, Deputy Director of Galaxy Futures Commodity Research Institute: In the first half of this year, the trading volume of the futures market was relatively active, mainly manifested in rebar, iron ore, oil, etc. The main reason is that domestic economic activities have effectively resumed, and enterprise production and operation have developed in an orderly manner, which has led to a steady increase in demand for risk management.

It is worth mentioning that in December last year, the first variety of industrial silicon futures and options listed on the Guangzhou Futures Exchange was an innovative variety in China's new energy metal sector. The industrial silicon futures and options market operated steadily and orderly in the first half of this year, and the futures function gradually came into play. Statistics show that the cumulative trading volume of industrial silicon from January to June was 10.01 million hands, with a cumulative transaction volume of 658.4 billion yuan.

Jiang Hongyan, Deputy Director of Galaxy Futures Commodity Research Institute: Industrial silicon and soon to be listed lithium carbonate futures are both strategic varieties serving the country's energy transformation. Enterprises can use industrial silicon and lithium carbonate futures for diversified risk management, achieving a linkage between futures and spot prices.

As of the end of June 2023, there were a total of 115 listed futures and options varieties in China.