According to preliminary statistics released by the People s Bank of China, in the first three quarters of 2010, new RMB and foreign currency loans extended by all financial institutions amounted to 6.3 trillion yuan, including 6.3 trillion yuan RMB loans. The loan structure showed the following characteristics:
1. The growth of long and medium-term loans decelerate, and bill financing decreased. In the first three quarters of 2010, long and medium-term RMB and foreign currency loans by all financial institutions registered a growth of RMB 5.22 trillion yuan, 243.1 billion yuan less than the same period of last year. Outstanding loans at end-September 2010 increased 29.8 percent year on year, the 5th consecutive monthly decline. Short-term RMB loans registered a growth of 1.78 trillion yuan, 339.8 billion yuan less than the same period of last year. The amount of bill financing decreased by 809.8 billion yuan.
2. The growth of long and medium-term loans to the second industry decelerated, while the growth of long and medium-term loans to the first and tertiary industries registered a noticeable decline. In the first three quarters of 2010, the growth of long and medium-term RMB and foreign currency loans issued by major financial institutions decelerated, while the outstanding balance stood at 6.
05 trillion yuan, an increase of 18.1 percent year on year, down 6.3 percentage points from end-2009. The growth of long and medium-term loans to the first industry, and especially to the tertiary industry declined, and the outstanding balance at end-September posted 144.9 billion yuan and 13.32 trillion yuan respectively, an increase of 11.
1 percent and 27.9 percent, down 11.8 and 26.1 percentage points from end-2009.
3. The growth of long and medium-term loans to major infrastructural industries1declined noticeably. In the first three quarters, new RMB and foreign currency loans issued by major financial institutions to major infrastructure industries amounted to 1.41 trillion yuan. Outstanding balance at end-September increased 21.2 percent year on year, down 21.8 percentage points from end-2009. In sector-by-sector breakdown, outstanding balance of long and medium-term loans to the water, environment and public facilities management industries increased 24.3 percent, down 60.9 percentage points from end-2009; outstanding balance of long and medium-term loans to the transportation, warehousing and postal industries registered a growth of 28.7 percent, down 11.4 percentage points from end-2009; outstanding balance of the long and medium-term loans to producers and suppliers of water, electricity and gas rose 6.9 percent, down 8.0 percentage points from end-2009.
4. The growth of property development loans saw a marked slowdown. In the first three quarters of 2010, RMB loans for property development issued by major financial institutions, rural cooperative financial institutions and urban credit cooperatives posted 1.72 trillion yuan. The outstanding balance at end-September 2010 increased 32.9 percent year on year, down 5.2 percentage points from end-2009. In particular, new loans for land development 2registered 160.2 billion yuan, and the outstanding balance at end-September 2010 increased 36.0 percent year on year, down 68.2 percentage points from end-2009. New loans for real estate development3registered 399 billion yuan, and the outstanding balance at end-September increased 21.5 percent year on year, up 5.7 percentage points from end-2009. Mortgage loans4registered 1.16 trillion yuan, and the outstanding balance at end-September increased 37.5 percent, down 5.5 percentage points from end-2009.
5. The growth of personal consumption loans5decelerated before accelerating. In the first three quarters of 2010, new personal consumption loans registered 1.5 trillion yuan, 251 billion yuan more than the same period of last year. Among the total, short-term and medium- and long-term personal consumption loans registered 203.3 billion yuan and 1.3 trillion yuan respectively. The growth of outstanding personal consumption loans decelerated before acceleration. At end-March, outstanding personal consumption loans increased 57.2 percent year on year, up 8.5 percentage points from end-2009. At end-June, outstanding personal consumption loans increased 53.6 percent year on year, down 3.6 percentage points from end-March. While at end-September, outstanding personal consumption loans increased 42.8 percent year on year, down 10.8 percentage points from end-June.
6. The growth of loans to small and medium-sized enterprises continued to outpace loans to large enterprises. At end-September 2010, outstanding RMB loans (including bills discounted) to large enterprises by major financial institutions, rural cooperative financial institutions, urban credit cooperatives and foreign banks posted 13.
15 trillion yuan, an increase of 12.5 percent year on year. Outstanding RMB loans to medium-sized enterprises posted 9.86 trillion yuan, an increase of 15.7 percent year on year, 3.2 percentage points higher than growth of loans to large enterprises. Outstanding RMB loans to small enterprises posted 7.
12 trillion yuan, an increase of 27.7 percent year on year, 15.2 percentage points higher than growth of loans to large enterprises. The loan structure continued to improve.
7. Loans for the countryside and the agricultural sector outpaced loans to other sectors, and the growth of loans to farmers was lower than residential loans. At end-September 2010, RMB and foreign currency loans to rural areas issued by major financial institutions, rural cooperative financial institutions, urban credit cooperatives, village and township banks and finance companies recorded an outstanding balance of 9.
3 trillion yuan, an increase of 30.3 percent year on year, up 1.6 percentage points from the same period of last year and 11.6 percentage points higher than other loans at the same period. Outstanding RMB and foreign currency loans to farmers stood at 2.6 trillion yuan, an increase of 29.8 percent year on year, up 1.
9 percentage points from the same period of last year, and 12.5 percentage points lower than growth of residential loans in the same period. Outstanding RMB and foreign currency loans to farming, forestry, animal husbandry and fishery stood at 2.3 trillion yuan, an increase of 19.4 percent year on year, down 1.
2 percentage points from the same period of last year, and 0.7 percentage point higher than the growth of other loans.
8. Loans to central and western regions outpaced that to the eastern region. In the first three quarters of 2010, new RMB and foreign currency loans to the eastern, middle and western regions registered 3.98 trillion yuan, 1.17 trillion yuan, and 1.32 trillion yuan, respectively, and the outstanding balance at end-September posted an increase of 18.5 percent, 19.7 percent, and 22.4 percent respectively, while the growth of loans to the middle and western regions outpaced loans to the eastern region by 1.2 and 3.9 percentage points respectively.
9. The growth of foreign currency loans declined for six months in a row. In the first three quarters of 2010, new foreign currency loans by financial institutions posted US$ 43.2 billion, and the outstanding balance increased 23.1 percent, a decline for six months in a row, or down 5.2 percentage points from the same period of last year, and down 32.9 percentage points from end-2009.
1 Major infrastructure industries include transportation, warehousing and postal industries, water, electricity and gas production and supply industries, and water, environment and public facilities management industries.
2 Loans for land development mean loans used for land development that will be repaid after the completion of land development.
3 Loans for real estate development mean housing construction loans, including housing development loans, commercial housing development loans and other housing development loans.
4 Mortgage loans include personal commercial housing loans and home loans.
5 Personal consumption loans include mortgage loans, housing decoration loans, auto loans, student loans, durable consumer goods loans, traveling loans and other loans.
