In The First Half Of This Year, The Scale Of Social Financing Was 7 Trillion And 760 Billion &Nbsp, And The Proportion Of RMB Loans Was Only Half Of That.

Recently, the central bank revealed, preliminary statistics, the first half of 2011

The central bank first announced quarterly data on the scale of social financing in April.

Sheng Songcheng, director of the central bank's investigation and Statistics Division, has said that the monthly social financing scale should be announced after the conditions are ripe.

Sheng Songcheng believes that the total amount of social financing this year is about 14 trillion yuan.

Last week, Fitch released a report predicting that the total amount of new financing in 2011 will be 18 trillion yuan.

Specifically, in the first half of the year, the new 7 trillion and 760 billion social financing scale, including RMB loans 4 trillion and 170 billion yuan, accounted for 53.7%, up 3.2 percentage points lower than the previous year; entrusted loans were 702 billion 800 million yuan, accounting for 9.1%, up 5.1 percentage points higher than the previous year; net financing of corporate bonds was 658 billion 800 million yuan, accounting for 8.5%, up to 0.5 percentage points higher than the previous year.

For a long time ago, China

The central bank believes that in recent years, changes in China's social financing structure, new RMB loans can not accurately reflect the scale of the financing of the real economy, and the scale of social financing that reflects the total amount of funds acquired by the real economy from the financial system is a more appropriate intermediate target of financial macro-control.

According to the definition of the central bank, the scale of social financing refers to the total amount of funds obtained from the financial system in a certain period of time (monthly, quarterly or annually), including the loans of Renminbi, foreign currency loans, entrusted loans, trust loans, bank acceptance bills, corporate bonds, non-financial corporate stocks, insurance companies compensation and other parts.

From 2002 to 2010, the scale of social financing in China expanded from 2 trillion yuan to 14 trillion and 270 billion yuan, with an average annual growth rate of 27.8%.

Over the same period, the proportion of RMB loans in total social financing showed a sharp decline: the proportion dropped from 92% in 2002 to 55.6% in 2010.

Perhaps because the new RMB loans do not fully reflect the total amount of financing of the real economy, the central bank rarely listed the target of new RMB loans this year.

But in this year's annual work conference, the central bank has proposed that the total liquidity gate should be guided to guide the reasonable growth of the total amount of money and credit so as to maintain a reasonable scale of social financing.

Annex _2011 data on social financing scale in the first half of the year

Source: central bank website

The scale of social financing is 7 trillion and 760 billion yuan, which is 384 billion 700 million yuan less than that of the same period last year.

RMB loans increased by 4 trillion and 170 billion yuan, an increase of less than 449 billion 700 million yuan.

Foreign currency loans equivalent to RMB increased by 336 billion 100 million yuan, an increase of more than 117 billion 900 million yuan compared with the same period last year.

Entrusted loans increased by 702 billion 800 million yuan, an increase of more than 382 billion 900 million yuan over the same period.

Trust loans increased by 91 billion 300 million yuan, an increase of less than 510 billion 200 million yuan.

Bank acceptance bill increased by 1 trillion and 330 billion yuan.

Less than 44 billion 100 million yuan over the same period

Corporate bonds net financing 658 billion 800 million yuan, or more than 9 billion yuan.

Domestic stock financing of non-financial enterprises was 267 billion 700 million yuan, or more than 27 billion 400 million yuan.