952.7 billion in Sichuan, ranking first in the central and western regions

On October 24, the reporter learned from the fourth quarter press conference held by Sichuan Branch of the People’s Bank of China that at the end of September, the balance of local and foreign currency loans in the province was 11.5 trillion yuan, an increase of 11.2% year on year, 3.6 percentage points faster than the national growth rate, ranking the forefront of the country for 24 consecutive months. In the first three quarters of this year, the total amount of domestic and foreign currency loans in Sichuan increased by 952.7 billion yuan, ranking first in the central and western regions in terms of increment.
In addition, the Sichuan Branch of the People’s Bank of China actively guides financial institutions to strengthen credit management, continuously does a good job in the “five major articles” of finance, and effectively strengthens high-quality financial services for major strategies, key areas, and weak links.
Specifically, in terms of ensuring key projects, we will provide follow-up supporting financing services for policy oriented development financial instruments to support projects, and continuously improve the coordination and resolution mechanism for major project financing issues. Data shows that at the end of September, the balance of infrastructure loans in the province increased by 15% year-on-year, and the proportion of new infrastructure loans in the first three quarters of the province increased by 3.1 percentage points compared to the same period last year.
In promoting industrial transformation and upgrading, we will improve the risk compensation fund pool for manufacturing loans, increase the promotion of policy products such as “Chain Security Loans”, “Technical Reform Loans”, and “Renewal Loans”, and support Sichuan to strengthen its six advantageous industries, strategic emerging industries, and advanced manufacturing clusters. At the end of September, the balance of medium and long-term loans in the manufacturing industry in the province increased by 20.6% year-on-year, and the growth rate remained above 20% for 49 consecutive months.
In solving the financing difficulties of small and micro enterprises and weak links, we will continue to promote the construction of a long-term mechanism for “four loans” for small and micro enterprises, and guide financial institutions to increase their efforts in providing inclusive credit. At the end of September, the balance of inclusive small and micro loans in the province increased by 16% year-on-year, and the growth rate remained above 15% for 75 consecutive months.
In September, the weighted average interest rate for newly issued corporate loans in Sichuan was 4.26%, a year-on-year decrease of 11 basis points and at a historically low level. The weighted average interest rates for inclusive small and micro loans and personal housing loans were 4.26% and 3.33%, respectively, a year-on-year decrease of 25 and 74 basis points, respectively. The interest rate for personal housing loans has been consistently lower than that for corporate loans since August 2022.
Overall, in the first three quarters, the total credit volume in Sichuan maintained stable growth, the credit structure continued to optimize, and financing costs remained stable with a slight decrease.