Social financing in east China’s Jiangsu province increased by 1.48 trillion yuan in the first three quarters of the year, accounting for 9.6% of the national total and an increase of 0.9 percentage points over the same period of the previous year, latest statistics show.
At the end of September, the balance of RMB and foreign currency loans in Jiangsu was recorded at 11.55 trillion yuan, a year-on-year increase of 12.6%. The growth rate was 0.9 percentage points higher than that at the end of the second quarter, 1.13 trillion yuan more than that at the beginning of the year, and an increase of 175 billion yuan over the same period last year.
In the first three quarters, the province's accumulated new loans totaled 1.13 trillion yuan, an increase of 175 billion yuan over the same period of the previous year. At the same time new loans were added to create new historical highs to further optimize the credit term structure and investment structure.
At the end of September, the balance of RMB and foreign currency loans in the province's manufacturing industry was recorded at 1.66 trillion yuan, a year-on-year increase of 3.2% and maintaining positive growth for 19 consecutive months since March 2017.
In the first three quarters, the province's new manufacturing loans totaled 72.1 billion yuan, an increase of 11.4 billion yuan from a year ago. Advanced manufacturing and small and micro manufacturing companies get more loan support.
The net inflow of cross-border funds and foreign exchange supply exceeded demand, and the cross-border capital receipts and payments and the balance of foreign exchange settlement and sales were further expanded.
In the first three quarters, the province's net inflows of net cross-border funds and net settlements reached US$98.6 billion and US$10 billion respectively, up 15% and 30% respectively.
The province's stable financial operation in the first three quarters has provided a good support for the province's economy to maintain strong resilience and take a solid step toward high-quality development.
(Source: ourjiangsu.com)
