New RMB loan in August increased by 12.5 trillion yuan M2 increased by 12.2% year -on -year

Reporter Liu Qi

Financial data recovered in August. On September 9, the People's Bank of China released financial data in August, RMB loans increased by 1.25 trillion yuan, an increase of 39 billion yuan year -on -year; the scale of social financing increased by 2.43 trillion yuan, 557.1 billion yuan less than the same period last year. The two increased significantly compared with 679 billion yuan and 756.1 billion yuan in July, respectively.

"In August, RMB loan mainly presented the characteristics of weak residents." Pang Ye, chief economist and director of research department of Zhongliang Lianliang Federation, said in an interview with the Securities Daily reporter.

RMB loan increases by 125 trillion yuan

In terms of RMB loans, the sub -department saw that residential loans increased by 458 billion yuan, of which short -term loans increased by 192.2 billion yuan, and medium- and long -term loans increased by 265.8 billion yuan; enterprises (affairs) loans increased by 875 billion yuan, of which short -term loans decreased by 121 121 In 100 million yuan, medium- and long -term loans increased by 735.3 billion yuan, and bill financing increased by 159.1 billion yuan; non -bank financial institutions' loans decreased by 42.5 billion yuan.

Pang Ye further stated that high -frequency data shows that real estate sales in August are still in the stage of building recovery year -on -year, and it has dragged down residents' medium- and long -term loans in August.

Zhou Maohua, a macro researcher at the Everbright Bank Financial Market Department, told a reporter from the Securities Daily that compared with the consumption demand in August in August, the residents' medium- and long -term loans fell year -on Improvement, on the one hand, reflects the gradual release of domestic efforts to help enterprises and the effect of stabilizing investment policies, on the other hand, reflects the improvement of domestic enterprises' confidence in economic recovery prospects.

The increase in social financing is 2.43 trillion yuan

In terms of social financing, the increase in social financing in August was 2.43 trillion yuan, 557.1 billion yuan less than the same period last year.

Among them, RMB loans issued by the real economy increased by 1.33 trillion yuan, an increase of 63.1 billion yuan year -on -year; foreign currency loans issued by the real economy were equivalent to RMB 82.6 billion, a year -on -year decrease of 117.3 billion yuan; The year -on -year increase of 157.8 billion yuan; trust loans decreased by 47.2 billion yuan, a year -on -year decrease of 89 billion yuan; unimpeded bank acceptance bills increased by 348.5 billion yuan, an increase of 335.8 billion yuan year -on -year; 100 million yuan; net financing of government bonds was 304.5 billion yuan, a year -on -year 669.3 billion yuan; the domestic stock financing of non -financial enterprises was 125.1 billion yuan, a year -on -year less than 22.7 billion yuan.

Wang Qing, chief macro analyst of Dongfang Jincheng, believes that social finances have increased less in August, which are mainly dragged down by government bond financing, corporate bond financing, and foreign currency loans.

At the end of August, the balance of the broad currency (M2) was 2.5951 trillion yuan, an increase of 12.2%year -on -year, and the growth rate was 0.2 percentage points and 4 percentage points higher than the same period of the end of July and the same period. The growth rate was 6.1%, the growth rate was 0.6 percentage points lower than the end of July, 1.9 percentage points higher than the same period last year; the balance of currency (M0) in circulation was 9.72 trillion yuan, an increase of 14.3%year -on -year. The monthly net cash was put in cash of 72.2 billion yuan.

"M2 maintained an increase of 12.2%year -on -year, reflecting the continuous efforts of domestic fiscal policies and monetary policy, increasing basic currencies, and driving residents and corporate deposits to increase." Generally speaking The demand is improved, the structure continues to optimize, but the demand for physical financing is still weak as a whole. In the later period, the policy level still needs to work together.

Pang Ye believes that the current monetary policy has more relaxed space in terms of total volume. The policy signal shows that it will continue to take care of the economic recovery and confidence repair and non -excessive stimuli, continue to prevent funds from being detached from reality, continue to keep the system that does not occur. The balance between the bottom line of sexual risks, focusing on continuing to focus on the conduction chain from wide currencies to wide credit to maintain the smooth and moderate growth of currency credit.

- END -