On October 11, Central Bank released data showing that RMB loans increased by 18.08 trillion yuan in the first three quarters of 2022, an increase of 1.36 trillion yuan year-on-year; RMB deposits increased by 22.77 trillion yuan, an increase of 6.16 trillion yuan year-on-year.
Judging from the data in a single month, in September, RMB loans increased by 2.47 trillion yuan, an increase of 810.8 billion yuan year-on-year; RMB deposits increased by 2.63 trillion yuan, an increase of 303 billion yuan year-on-year.
In the first three quarters, 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; loans to enterprises (institutions) institutions increased by 14.48 trillion yuan, of which short-term loans increased by 3.28 trillion yuan, medium- and long-term loans increased by 8.65 trillion yuan, bill financing increased by 2.5 trillion yuan; loans to non-banking financial institutions increased by 22.4 billion yuan. It can be seen that the credit structure has improved significantly. In the third quarter of 2022, under the bottom line of policy of "housing for living, not for speculation", the central government continued to support local governments in optimizing real estate policies. On July 28, the Political Bureau of the Central Committee proposed to "take measures based on the city and make full use of toolboxes,... to strengthen the responsibilities of local governments, ensure the delivery of buildings and stabilize people's livelihood"; since the end of August, the State Council has repeatedly proposed to allow local governments to flexibly use credit and other policies to reasonably support rigid and improved housing needs; at the end of September, the People's Bank of China, the China Banking and Insurance Regulatory Commission, the Ministry of Finance and other ministries and commissions frequently released favorable policies to stabilize the market and expectations. At the local level, since September, the pace of implementation of policies based on cities in various places has accelerated, and some key first- and second-tier cities have followed up to further stabilize market expectations.
In terms of social financing, in September, the increase in social financing scale was 3.53 trillion yuan, 624.5 billion yuan more than the same period last year. In addition, the cumulative increase in social financing scale in the first three quarters of this year was 27.77 trillion yuan, 3.01 trillion yuan more than the same period last year.
Nandu·Wancai Society reporter Wang Yanling
