China's industrial loans record robust growth

0 Comment(s)Print E-mail Xinhua, August 7, 2022
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China's mid- and long-term loans to industry saw steady expansion in the first half of the year (H1), a report from the People's Bank of China shows.

A worker processes components of hydraulic drilling machine at an exploration technology company in Lianyungang, east China's Jiangsu Province, April 27, 2022. (Photo by Geng Yuhe/Xinhua)

By the end of June, the balance of the loans in yuan and foreign currencies stood at 15.25 trillion yuan (about 2.26 trillion U.S. dollars), surging 21.2 percent year on year, with a pace 10.4 percentage points faster than the overall growth of loans, according to the report.

In H1, China's mid- and long-term industrial loans increased 1.81 trillion yuan, up 218.1 billion yuan from the same period last year.

The data also shows that outstanding mid- and long-term loans to the tertiary sector in yuan and foreign currencies totaled 53.3 trillion yuan as of the end of H1, up 9 percent year on year. 

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