中国人民银行：增强资本要素服务实体经济的能力
Xin Hua Cai Jing·2025-09-11 13:58

Core Viewpoint - The State Council of China has approved a pilot implementation plan for the market-oriented allocation of factors in certain regions, aiming to enhance the financial support for key sectors and weak links in the economy [1][2]. Group 1: Financial Support Initiatives - The People's Bank of China (PBOC) has established various loan tools, including those for agriculture, small enterprises, carbon reduction, technological innovation, and elderly care, to strengthen the capital factor's service to the real economy [1]. - By the end of Q2 2025, the carbon reduction support tool is expected to guide financial institutions in issuing over 1.38 trillion yuan in carbon reduction loans [1]. - The PBOC has supported nearly 20,000 technology-oriented small and medium-sized enterprises (SMEs) with first-time loans, with a total of 2.2 trillion yuan in loans for technological innovation and transformation [1]. Group 2: Green Finance Development - As of Q2 2025, the balance of green loans is approximately 42.4 trillion yuan, and the balance of green bonds exceeds 2.2 trillion yuan, placing these metrics among the top globally [1]. - Inclusive small and micro loans and technology loans have increased by over 12% year-on-year, while loans for the elderly care industry have surged by 43%, both exceeding the overall loan growth rate [1]. Group 3: Regulatory and Structural Reforms - The PBOC is enhancing foundational infrastructure such as standard setting, financial statistics, and information disclosure to promote the rational flow of factors [2]. - A new version of the "Green Finance Support Project Directory" will be issued in 2025, which will standardize the definition of various green financial products and introduce new categories like green consumption and trade [2]. - The PBOC is leading regional financial reform efforts in ten pilot areas, with cities like Beijing, Hangzhou, and Hefei focusing on innovation finance, while others like Chongqing and Guangzhou are deepening green finance reforms [2].