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Shandong's Major Financial Indicators Grow Steadily in H1

Source：Haibao News 07-31-2024 17:56:23

In the first half of this year, Shandong's major financial indicators grew steadily, and the financing costs for market entities remained stable with a slight decline. By the end of June, Shandong's total social financing balance reached 22.9 trillion yuan, marking a 10.3% year-on-year increase. The RMB loan balance stood at 14.5 trillion yuan, up 10.1 percent year on year, while the RMB deposit balance was 16.7 trillion yuan, an increase of 7.4% year on year.

In the first half of this year, Shandong's foreign-related revenue and expenditure totaled 250.72 billion US dollars, resulting in a surplus of 14.73 billion US dollars. The total amount of foreign exchange settlement and sales was 123.03 billion US dollars, achieving a surplus of 14.91 billion US dollars in foreign exchange settlement and sales.

Focusing on the long-term, large-scale, and high-tech financing needs for developing new quality productive forces, Shandong has consistently increased the supply of medium- and long-term credit funds. By the end of June, the balance of medium- and long-term loans for enterprises in Shandong reached 5.9 trillion yuan, reflecting a 17% year-on-year increase.

Shandong supports the growth and expansion of the private economy. In the first half of this year, private economic loans in Shandong increased by 292.63 billion yuan, which is 70.73 billion yuan higher than the average level for the same period over the past five years.

The cost of financing continues to decline. In June, the weighted average interest rate on new loans to enterprises in Shandong was 3.9%, a reduction of 0.29 percentage points compared to the previous year. The interest rate on inclusive loans for small and micro-enterprises was 4.24%, down by 0.34 percentage points year on year. Meanwhile, the interest rate on personal housing loans stood at 3.51%, reflecting a decrease of 0.6 percentage points year on year.