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China sees higher aggregate financing to real economy at end-September

Xinhua | Updated: 2020-10-16 10:55
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A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. [Photo/China News Service]

BEIJING - The outstanding aggregate financing to the real economy (AFRE) reached 280.07 trillion yuan ($41.54 trillion) at the end of September, up 13.5 percent year-on-year, according to the People's Bank of China.

Specifically, outstanding RMB loans to the real economy hit 168.26 trillion yuan, up 13.2 percent year-on-year and outstanding foreign currency-denominated loans to the real economy (RMB equivalent) were 2.35 trillion yuan, up 7.7 percent year-on-year.

Outstanding entrusted loans registered 11.13 trillion yuan, down 5.1 percent year-on-year, and outstanding trust loans were 7.03 trillion yuan, down 8.5 percent year-on-year.

Outstanding undiscounted bankers' acceptances recorded 3.9 trillion yuan, up 18.7 percent year-on-year. Outstanding corporate bonds registered 27.39 trillion yuan, up 20.6 percent year-on-year and outstanding government bonds reached 44.46 trillion yuan, increasing 20.2 percent year-on-year.

Outstanding domestic equity of non-financial firms amounted to 7.97 trillion yuan, increasing 10 percent year-on-year. By structure, outstanding RMB loans to the real economy accounted for 60.1 percent of the total AFRE at the end of September, decreasing 0.1 percentage points year-on-year. 

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