Chinese Central Bank Releases Q2 2022 Credit Usage Report

118

The People’s Bank of China (PBOC) has just released its latest quarterly report on the extension and usage of credit in the Chinese economy.

According to the “2022 Q2 Financial Institution Lending Direction Statistical Report” (2022年二季度金融机构贷款投向统计报告), as of the end of the second quarter the renminbi loan balance of financial institutions in China stood at 206.35 trillion yuan, for a year-on-year (YoY) rise of 11.2%.

Renminbi loans increased 13.68 trillion yuan in the first half of the year, 919.2 billion yuan ahead of the print for the same period last year.

As of the end of the second quarter the renminbi financial inclusion balance stood at 29.91 trillion yuan, for YoY growth of 20.8%, for growth 9.6 percentage points ahead of the average.

The domestic and foreign currency green loan balance stood at 19.55 trillion yuan for YoY growth of 40.4%, for an acceleration of 7.4 percentage points compared to the end of last year, and growth 29.6 percentage points ahead of overall renminbi loan growth.

The domestic and foreign currency medium and long-term infrastructure loan balance stood at 31.02 trillion yuan for YoY growth of 12.5%, while the domestic and foreign agricultural loan balance was 47.1 trillion yuan, for YoY growth of 13.1%.

As of the end of the second quarter the renminbi real estate loan balance stood at 53.11 trillion yuan, for YoY growth of 4.2%, and a deceleration of 3.7 percentage points compared to the end of last year.

Renminbi real estate loans increased by 668.5 billion yuan in the first half, accounting for 4.9% of all new loans during the period, for decline of 14.2 percentage points compared to the full year share in 2021.

The domestic and foreign currency household loan balance was 73.29 trillion yuan as of the end of the second quarter, for You growth of 8.2%, and a deceleration of 4.3 percentage points compared to the end of last year.

Household business loans stood at 17.75 trillion yuan, for YoY growth of 15.1% and a deceleration of 4 percentage points compared to the end of last year, while household consumer loans (not including personal mortgages) stood at 16.68 trillion yuan, for a YoY increase of 5.8%, and a deceleration of 3.7 percentage points.