BEIJING (XINHUA) – China’s new yuan loans expanded by CNY2.02 trillion in the first six months amid solid monetary policy support for the real economy, showed official data.
China’s new yuan-denominated loans totalled CNY15.73 trillion in the first half of 2023.
The majority of the newly-added loans went to key sectors, including manufacturing and infrastructure industries, said data from the People’s Bank of China.
At the end of June, the balance of medium and long-term loans in the manufacturing sector surged 40.3 per cent year-on-year, 10.7 percentage points higher than the same period last year.
In the meantime, the balance of medium and long-term loans in the infrastructure sector grew by 15.8 per cent, picking up 3.3 percentage points from the same period last year.
