East China’s Jiangsu province recorded another record high in the increment of deposits and loans, and the financial support for the real economy continued to increase, according to the province’s financial statistics in January released by the People's Bank of China Nanjing Branch on Monday.
Statistics show that at the end of January, the province’s balance of RMB and foreign currency loans reached 21.58 trillion yuan, up 15.2% year on year, an increase of 866.5 billion yuan over the beginning of the year, and continuing to lead the country with a gain of 2007 billion yuan year on year.
The head of relevant department of the People's Bank of China Nanjing Branch said that the province’s large increase in credit in January is inseparable from the objective factor of the strong demand for enterprise funds at the beginning of the year and more importantly from the implementation of 42 policies and measures Jiangsu introduced early this year, which has promoted the major banks to advance in credit delivery, and constantly matched personalized credit products for small and medium-sized enterprises in the province by providing more preferential interest rates.
Statistics also show that enterprises in Jiangsu recorded a significant increase in medium - and long-term loans. In January, the province’s enterprise loans increased by 833.9 billion yuan, an increase of 255.4 billion yuan year-on-year, accounting for 96.2% of the total new loans.
Enterprises in the province increased medium - and long-term loans by 612.4 billion yuan, an increase of 232.3 billion yuan year-on-year.
An analysis has found that the medium and long-term credit in Jiangsu is mainly oriented towards infrastructure construction, manufacturing and real estate industries. Manufacturing loans are mainly used for the upgrading of relevant equipment and technology, which is conducive to further consolidating the "greatest advantage" of the province's manufacturing industry.
At the end of January, the province reported a balance of RMB and foreign currency deposits of 23.14 trillion yuan, up 13.4% year on year.
