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Shandong’s Social Financing Scale Reaches 20.8 Trillion Yuan in the First Half of 2023

Source：The Seanews 08-08-2023 11:10:00

Recently, the Jinan Branch of the People's Bank of China held a press conference to introduce Shandong Province's financial data for the first half of the year. By the end of June, the province's social financing scale and balance of loans in domestic and foreign currencies were 20.8 trillion yuan and 13.4 trillion yuan, up 11.2% and 11.8% year on year respectively, 2.2 percentage points and 1.2 percentage points faster than the national levels.

The financing environment of the private economy was continuously optimized. In the first half of this year, the loans to private enterprises in the province increased by 240.63 billion yuan, up 63.24 billion yuan year on year, hitting a record high in year-on-year terms. The balance of the inclusive loans to micro and small businesses with private market entities being in the majority reached 1.7 trillion yuan, up 27.5% year on year. Notably, finance showed an increasingly stronger role in supporting sci-tech innovation and the development of the green industry. At the end of June, the province's balance of the loans to sci-tech innovation enterprises was 968 billion yuan, up 12.9% year on year; its green loan balance was 1.5 trillion yuan, up 46.3% year on year.

In addition, the financial industry itself also grew rapidly. In the first half of the year, the added value of the financial industry in the province was 285.49 billion yuan, up 7.9% year on year. The non-performing loan ratio remained low. By the end of June, the province's non-performing loan ratio was 1.25%, down 0.02 percentage points from the beginning of the year.