PBOC Data Points to Accelerated Financial Inclusion Lending in Second Quarter of 2019

580

The People’s Bank of China (PBOC) has released a raft of data on lending within the Chinese economy in the second quarter of 2019.

PBOC data indicates that as of the end of the second quarter of 2019 the renminbi lending balance of financial institutions in China was 145.97 trillion yuan, for a YoY increase of 13.0%, and a deceleration of 0.7 percentage points compared to the end of the first quarter.

The first half saw an increase in the renminbi lending balance of 9.67 trillion yuan, 644 billion yuan ahead of the figure for the same period last year.

At the end of the second quarter the balance of domestic and foreign currency loans to non-financial enterprises and other entities was 95.29 trillion yuan, for a YoY rise of 10.6%, and a deceleration of 0.6 percentage points compared to the end of the first quarter.

The renminbi financial inclusion lending balance was 16.34 trillion yuan, for YoY growth of 16.2%, and an acceleration of 1.8 percentage points compared to the end of the first quarter.

Renminbi financial inclusion lending increased by 1.49 trillion yuan in the first half, 595.3 billion yuan ahead of the figure for the same period last year.

The financial inclusion microloan balance was 10.71 trillion yuan as of the end of the second quarter, for a YoY increase of 22.5%, and an acceleration of 3.4 percentage points compared to the end of the first quarter.

Financial inclusion microloans increased by 1.22 trillion yuan in the first half, 647.8 billion yuan ahead of the figure for the same period last year.