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上半年上海个人房货需求回升,信贷结构持续优化
Guo Ji Jin Rong Bao·2025-07-24 12:02

Core Insights - The People's Bank of Shanghai reported a stable growth in credit and financing costs, contributing to the high-quality economic development of Shanghai in the first half of 2025 [1][3] Group 1: Credit and Financing - As of June, the total balance of loans in Shanghai reached 12.85 trillion yuan, with a year-on-year growth of 8.4%, which is 1.6 percentage points higher than the national average [1] - Household loans increased by 13.7% year-on-year, with a notable recovery in personal housing loan demand since October of the previous year [1] - Non-financial enterprise loans grew by 5.5% year-on-year, with these loans accounting for 55.2% of all new loans in the first half of the year [1] Group 2: Loan Structure and Costs - The loan structure has been optimized, with significant increases in loans to the technology and inclusive finance sectors, showing year-on-year growth of 28.9% for information technology, 19.7% for research services, and 14.9% for inclusive small and micro loans [2] - The weighted average interest rate for newly issued corporate loans in June was 2.74%, down 49 basis points from the previous year, marking a historical low [2] - The weighted average interest rate for small and micro enterprise loans was 3%, a decrease of 56 basis points year-on-year [2] Group 3: Social Financing and Direct Financing - The social financing scale in Shanghai increased by 841.8 billion yuan in the first half of the year, which is 324 billion yuan more than the previous year, effectively meeting the financing needs of the real economy [3] - RMB loans to the real economy increased by 510.8 billion yuan, accounting for 60% of the total social financing increment [3] - Direct financing saw significant growth, with net financing from corporate bonds at 102.6 billion yuan, net financing from non-financial enterprise stocks at 14.2 billion yuan, and net financing from government bonds at 144.4 billion yuan, with the latter showing a year-on-year increase of 2.036 billion yuan [3]