宏观政策协同发力 信贷结构持续优化

Group 1 - The core viewpoint of the articles indicates that the financial indicators in July remain above the economic growth rate, reflecting a supportive monetary policy environment for the real economy [1] - The issuance of government bonds has accelerated, which, combined with a moderately loose monetary policy, has driven the growth of social financing and monetary credit [2][3] - The government department's leverage ratio has increased by 9 percentage points to 65.3%, while the leverage ratios of non-financial enterprises and households have remained relatively stable [3] Group 2 - Seasonal factors have influenced the fluctuations in credit data, with July typically being a "small month" for credit growth due to various operational pressures [4] - The loan balance as of the end of July grew by 6.9% year-on-year, indicating a stable support for the real economy [5] - The structure of credit is continuously optimizing, with significant growth in inclusive small and micro loans and medium to long-term loans for the manufacturing sector [7] Group 3 - The financial policies are increasingly focused on high-quality credit allocation, aligning with the current economic structural transformation [7] - The ongoing implementation of various monetary policy tools is expected to maintain reasonable credit growth throughout the year, particularly in key areas such as technology innovation, consumption, and green finance [8]