Balance of loans in Shanghai up 7.3% at end of December 2023

SHANGHAI -- The balance of loans in Shanghai, including all currencies, rose 7.3 percent year-on-year at the end of December 2023 to 11.18 trillion yuan ($1.57 trillion), official data showed.

Specifically, the balance of loans in Chinese yuan stood at 10.59 trillion yuan, up 8.6 percent year-on-year, according to the People's Bank of China Shanghai Head Office.

Outstanding foreign currency loans totaled $82.7 billion, down 13.3 percent from the end of 2022.

At the end of December last year, the balance of Shanghai's deposits climbed 6.3 percent on a yearly basis to 20.44 trillion yuan, the data also revealed.