CCTV News: The State Council Information Office held a series of press conferences on "The Achievements of China's High-Quality Economic Development" on January 14 to introduce the relevant situation of financial support for high-quality economic development.
Zhang Wenhong, head of the Survey and Statistics Department of the People's Bank of China, said that at the end of 2024, the balance of my country's social financing scale was 408.34 trillion yuan, an increase of 8% year-on-year, and the growth rate was 0.2 percentage points higher than the previous month. The increase in the scale of social financing for the whole year was 32.26 trillion yuan, which was at a historically high level. From a structural perspective, the increase in social financing scale mainly has the following characteristics: First, financial institutions maintain reasonable growth in loans to the real economy. The RMB loans issued by financial institutions to the real economy increased by 17.05 trillion yuan throughout the year.
Secondly, the financial system cooperates with the fiscal system to continue to make efforts, and government bond financing increased by a large year-on-year increase, at the highest level in history. In 2024, the net financing of government bonds was 11.3 trillion yuan, the highest level in the same period in history, with an increase of 1.69 trillion yuan year-on-year. Among them, the net financing of treasury bonds was 4.5 trillion yuan, an increase of 357.4 billion yuan year-on-year; the net financing of local government bonds was 6.79 trillion yuan, an increase of 1.33 trillion yuan year-on-year.
Third, corporate bond financing is higher than the same period last year. In 2024, corporate bonds were net financing of 1.91 trillion yuan, an increase of 283.9 billion yuan year-on-year.
Fourth, trust loans in off-balance sheet financing increased year-on-year. In 2024, trust loans increased by 397.6 billion yuan, an increase of 240 billion yuan year-on-year. In addition, entrusted loans and undiscounted bank acceptance bills decreased by 57.7 billion yuan and 329.5 billion yuan respectively.
Overall, the scale of social financing maintained a reasonable growth in 2024, which strongly supported the recovery and improvement of the real economy.
