Statistical Report on the Credit Structure of Financial Institutions (Q2 2023).pdf

1. Loans to enterprises and public institutions saw steady growth, with notable growth from medium and long-term loans

As of end-Q2 2023, outstanding RMB and foreign currency loans to enterprises and public institutions increased by 13.5 percent year on year to RMB152.21 trillion, a deceleration of 0.1 percentage points from end-2022. The growth of this outstanding amount registered RMB12.86 trillion in H1 2023, RMB1.3 trillion more than the increment in the same period last year.

By loan tenure, short-term loans and bill financing recorded an outstanding amount of RMB52.8 trillion, increasing by 6.8 percent year on year, or a deceleration of 6.2 percentage points from end-2022; the outstanding amount rose RMB3.01 trillion in H1 2023, RMB2.24 trillion less than the increment in the same period last year.

Outstanding medium and long-term (MLT) loans grew 17.9 percent year on year to RMB95.96 trillion, an acceleration of 3.4 percentage points from end-2022; the outstanding amount increased RMB9.68 trillion in H1 2023, RMB3.45 trillion more than the increment in the same period last year.

By loan use, the outstanding amount of fixed asset loans rose 14.2 percent year on year to RMB63.7 trillion, an acceleration of 2.8 percentage points from end-2022, while the outstanding amount of business loans grew 15 percent year on year to RMB62.87 trillion, an acceleration of 2.3 percentage points from end-2022.

2. Growth of MLT industrial loans, service sector loans and infrastructure sector loans picked up continuously

As of end-Q2 2023, MLT industrial loans in RMB and foreign currencies posted an outstanding amount of RMB20.2 trillion, rising 32.4 percent year on year. This surpassed the growth rate of all loans by 21.8 percentage points, an acceleration of 5.9 percentage points from end-2022; the outstanding amount grew RMB3.19 trillion in H1 2023, RMB1.39 trillion more than the increment in H1 2022. Specifically, outstanding MLT loans to heavy industries registered RMB17.24 trillion, increasing by 32.2 percent year on year, an acceleration of 6.7 percentage points from end-2022, while outstanding MLT loans to light industries reached RMB2.96 trillion, rising 33.6 percent year on year, an acceleration of 1.1 percentage points from end-2022.

As of end-Q2 2023, MLT service sector loans in RMB and foreign currencies recorded an outstanding amount of RMB60.75 trillion, rising 14 percent year on year, an acceleration of 2.8 percentage points from end-2022; the outstanding amount grew RMB5.05 trillion in H1 2023, RMB1.67 trillion more than the increment in the same period last year. Outstanding MLT real estate loans increased 7.1 percent year on year, an acceleration of 3.1 percentage points from end-2022.

As of end-Q2 2023, MLT infrastructure sector 1 loans in RMB and foreign currencies recorded an outstanding amount of RMB35.93 trillion, rising 15.8 percent year on year, an acceleration of 2.8 percentage points from end-2022; the outstanding amount grew RMB3.25 trillion in H1 2023, RMB1.1 trillion more than the increment in the same period last year.

3. Loans for inclusive finance maintained relatively high growth

As of end-Q2 2023, inclusive MSE loans recorded an outstanding amount of RMB27.69 trillion, rising 26.1 percent year on year, an acceleration of 2.3 percentage points from end-2022; the loans grew RMB3.9 trillion in H1 2023, RMB1.16 trillion more than the increment in the same period last year. Production and business loans to rural households, guaranteed loans to start-ups and student loans recorded an outstanding amount of RMB8.86 trillion, RMB298.1 billion and RMB169.6 billion, up 18.3 percent, 14.6 percent and 21.6 percent year on year, respectively.

As of end-Q2 2023, outstanding loans to the population out of poverty across the country increased 13.2 percent year on year to RMB1.11 trillion, and the loans issued amounted to RMB485.3 billion in H1 2023.