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Financial Loans Keep Steady Growth, Structure of Banking Assets Continue to Improve
According to the latest statistics released by the People's Bank of China the social needs of loans have increased due to the influence of robust economic growth. August saw all sorts of loans released by financial institution increase to 100 billion yuan, a rise of 5.6 billion yuan over the same period of last year. From January to August the increased loans added up to 810.6 billion yuan, being 239.3 billion-yuan over that of last year.
At the end of August, the balance of all types of loans hit 9487.4 billion yuan, up 14% in terms of comparable caliber, down 0.1 % from the month before last.
As starting from this year, the structure of banking assets has been further improved along with the constant increase of the total loans released by financial institutions. In the past 8 months, treasury bonds, banking debts purchased by financial institutions showed a rise of 213.3 billion yuan as against that of last year. Loans used for infrastructure construction, personal housing, auto, student loans have witnessed a significant increase.
August saw cash net release amount to 22.2 billion yuan, 2.6 billion yuan over the same period of last year and cash withdrawal reached 7.7 billion yuan, up 2.68 billion as against that of last year. The cash withdrawal this year is mainly the revenue from goods sales and negotiable securities, while the release is mainly meant for the payment of withdrawal of the residents' deposit from banks. The end of August saw the balance of bank deposits by enterprises hit 4114.7 billion yuan, a rise of 21.2%. The previous 8 months witnessed the accumulated deposits from enterprises increase to 405.1 yuan, up 254.9 billion yuan from the same period of last year. The exchange rate of Renminbi to US dollar stood at 8.2786 at the end of August, 15 basic points in appreciation as against that by the end of last year.
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