The city of Nanjing reported sustained growth in the volume credit loan granted in the first seven months of this year due to the role of monetary policy in counter-cyclical adjustment, the Nanjing branch of the People’s Bank of China said on Thursday.
At the end of July, financial institutions in Nanjing reported 3.9 trillion yuan in the balance of domestic and foreign currency deposits, a year-on-year increase of 6.7%, continuing to rank first in Jiangsu.
The steady growth of deposits promoted the rapid growth of credit loan.
At the end of July, financial institutions in Nanjing reported 3.68 trillion yuan in the balance of domestic and foreign currency loans, a year-on-year increase of 13.8%, and the balance also ranked first in Jiangsu.
The growth rate of short-term loans is higher than the growth rate of medium- and long-term loans, showing the continuous optimization of loan structure.
At the end of June, the balance of technology loans increased by 14% year-on-year.
At the end of July, the balance of loans to small and micro enterprises, loans to private enterprises, and loans to manufacturing increased by 9.3%, 8.9%, and 8.4% year-on-year, demonstrating strengthening financial support for technological innovation and manufacturing and other key areas.
