央行：金融支持政策加力，提升消费信贷供给能力

Core Viewpoint - The People's Bank of China (PBOC) has implemented a series of financial support policies to effectively boost service consumption supply and better meet residents' service consumption needs [1] Group 1: Financial Support Policies - In May, the PBOC established a 500 billion yuan (approximately 70.5 billion USD) service consumption and pension relending facility to guide financial institutions in increasing credit investment in key service consumption areas such as accommodation, catering, cultural and entertainment, education, resident services, and tourism [1] - Financial institutions have reported nearly 60 billion yuan (approximately 8.4 billion USD) in applications for service consumption and pension relending, involving nearly 4,000 entities and over 5,700 loans [1] Group 2: Loan Growth and Consumption Focus - As of the end of July, the loan balance in key service consumption areas reached 2.79 trillion yuan (approximately 392 billion USD), showing a year-on-year growth of 5.3%, with an increase of 164.2 billion yuan (approximately 23 billion USD) since the beginning of the year [1] - The new loans in the first seven months of this year exceeded the total new loans for the entire previous year by 63 billion yuan (approximately 8.8 billion USD) [1] Group 3: Financial Instruments and Credit Supply - The PBOC actively supports eligible financial institutions in issuing financial bonds and credit asset-backed securities to broaden funding sources and enhance consumer credit supply capacity [1] - From January to July, automotive finance companies issued 21.5 billion yuan (approximately 3 billion USD) in financial bonds and 48.4 billion yuan (approximately 6.8 billion USD) in credit asset-backed securities [1]