August financial statistics released! Central Bank interpretation: Reasonable increase in total financial amount.

On September 13, the People's Bank of China released the financial statistics for August. The relevant departments of the central bank interpreted the August financial statistics and answered questions from the media. The spokesperson stated that there were three main characteristics of the August data. Firstly, the overall financial volume saw reasonable growth. The M2 balance has been stable recently. In August, the growth rates of the scale of social financing and RMB loans were both above 8%, about 4 percentage points higher than the nominal GDP growth rate for the first half of the year. Despite the accelerated structural transformation, financial data continues to grow steadily on a high base, providing solid support to the real economy. Secondly, the credit structure continued to improve. Credit resources are flowing more towards major strategic areas, key sectors, and vulnerable areas, effectively supporting the accelerated optimization of the economic structure. By the end of August, the balance of long-term loans in manufacturing reached 13.69 trillion yuan, a year-on-year increase of 15.9%, with long-term loans to high-tech manufacturing increasing by 13.4% year-on-year. The balance of loans to technology-based small and medium-sized enterprises reached 3.09 trillion yuan, a year-on-year increase of 21.2%. The balance of loans to "specialized, innovative, and new" enterprises reached 4.18 trillion yuan, up 14.4% year-on-year. The balance of inclusive small and micro loans reached 32.21 trillion yuan, up 16.0% year-on-year. The growth rates of these loans were all higher than those of other loans during the same period. Thirdly, interest rates continued to decline to low levels. In August, the weighted average interest rate on new corporate loans was 3.57%, 8 basis points lower than the previous month and 28 basis points lower than the same period last year. The interest rate on new inclusive small and micro loans was 4.48%, 8 basis points lower than the previous month and 34 basis points lower than the same period last year, both at historical lows. In terms of supporting the high-quality development of the economy, the People's Bank of China has made progress and achievements in optimizing the credit structure, with stronger, more adaptive, and more precise support for major strategies, key sectors, and vulnerable areas. Going forward, the People's Bank of China will continue to implement policies and measures, accelerate the formulation of overall plans for the "five major areas" of finance, and digital finance, and pension finance policies, and continue to deepen financial reforms in key areas to more effectively support the high-quality development of the economy. As for future monetary policy considerations and measures, the People's Bank of China will maintain a supportive monetary policy stance and create a favorable monetary and financial environment for the economy to recover and improve. The monetary policy will be more flexible, precise, and effective, increase control efforts, implement financial policies already introduced, introduce incremental policy measures, further reduce the financing costs for enterprises and residents, ensure reasonable liquidity, and consider maintaining price stability and promoting moderate price increases as important considerations for monetary policy. Additionally, it will continue to strengthen the coordination of macroeconomic policies, support the effectiveness of active fiscal policies, focus on expanding domestic demand, promote consumption and investment, eliminate outdated production capacity, promote industrial upgrading, and support total supply and demand at higher levels.Achieve dynamic balance on the beam.This article is sourced from the WeChat official account of the People's Bank of China; Edited by GMTEight: Chen Xiaoyi.