近600亿再贷款申报落地，财政金融协同激活服务消费市场潜力

Core Insights - The People's Bank of China (PBOC) has implemented various financial support policies to boost service consumption and the elderly care sector, with nearly 600 billion yuan in loans reported by financial institutions as of now [1][2][3] Group 1: Financial Support Policies - As of the end of July, the balance of household consumption loans, excluding personal housing loans, reached 21.04 trillion yuan, with an increase of 346 billion yuan since the beginning of the year, reflecting a year-on-year growth of 5.34% [2][3] - The PBOC has established a 500 billion yuan service consumption and elderly care re-lending program to encourage financial institutions to increase credit in key service sectors such as accommodation, catering, and tourism [2][3] - A joint policy issued by nine departments, including the Ministry of Commerce, aims to enhance financial and fiscal collaboration to promote high-quality development in service consumption [1][5] Group 2: Credit Innovation and Support - The PBOC is guiding financial institutions to innovate credit products and services, focusing on key consumption areas such as food, housing, travel, and entertainment, to enhance credit supply [4][5] - From January to July, financial institutions issued 215 billion yuan in financial bonds and 484 billion yuan in asset-backed securities, which helps to activate credit supply and reduce financing costs [4][5] - The balance of loans in key service consumption sectors reached 2.79 trillion yuan by the end of July, with a year-on-year increase of 5.3% and a net increase of 1,642 billion yuan since the beginning of the year [3][4] Group 3: Fiscal and Financial Coordination - Recent measures include multi-dimensional funding support for service consumption, focusing on sectors like culture, tourism, and elderly care, to stimulate market vitality [5][6] - The government aims to lower credit costs through a dual interest subsidy policy, which could potentially lead to 1 trillion yuan in loans directed towards consumption [6] - The PBOC plans to work with various departments to ensure that policies effectively reach service consumption entities and consumers, enhancing public satisfaction [7]