普惠小微贷款保持较快增长 贷款加权平均利率同比下降66个基点

Core Insights - The People's Bank of China reported that inclusive micro and small loans experienced rapid growth in the first half of the year, with a balance of 35.6 trillion yuan as of June 2025, representing a year-on-year increase of 12.3%, which is 5.2 percentage points higher than the growth rate of all loans during the same period [1] Group 1 - The total increase in inclusive micro and small loans for the first half of the year was 2.6 trillion yuan, indicating a significant rise [1] - The financing costs for inclusive micro and small enterprises have continued to decline, with the weighted average interest rate for newly issued loans at 3.48% as of June 2025, down 12 basis points from March and down 66 basis points from the same period last year [1] - The proportion of credit loans within inclusive micro and small loans has increased, helping to address issues related to collateral and financing difficulties for small enterprises, with nearly 30% of the loans being credit-based as of June, an increase of 0.7 percentage points from the previous quarter [1] Group 2 - There has been an increased focus on supporting small and medium-sized enterprises, particularly technology-based SMEs, with a loan balance of 3.5 trillion yuan for technology-based SMEs as of June 2025, reflecting a year-on-year growth of 22.9% [1] - A total of 274,000 technology-based SMEs received loan support, with a loan approval rate of 50% [1]