Economy > Regional

Guangdong leads China in aggregate financing in 2020

2021-02-03 09:42

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BEIJING, Feb. 2 (Xinhua) -- Guangdong, Jiangsu and Zhejiang were the top three regions in terms of aggregate financing to the real economy in 2020, the central bank said on Tuesday.

South China's Guangdong Province saw its aggregate financing stood at 4.07 trillion yuan (about 628.7 billion U.S. dollars) last year, ranking first among the country's provincial-level regions, according to a table posted on the website of the People's Bank of China (PBOC).

The figures for eastern China's Jiangsu and Zhejiang provinces hit 3.36 trillion yuan and 3.22 trillion yuan, respectively.

By the end of 2020, China's total outstanding social financing rose by 13.3 percent year on year to 284.83 trillion yuan. Of the total, the outstanding RMB loans to the real economy were 171.6 trillion yuan, up by 13.2 percent year on year.

Judging from the structure, the real economy has received the lion's share of loans. Outstanding yuan loans to the real economy accounted for 60.2 percent of the outstanding social financing by the end of last year.

The country will give full play to the "drip irrigation" function of monetary policy tools and step up efforts to effectively support the real economy, said Chen Yulu, vice governor of the PBOC.
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