新华指数|普惠金融-小微指数显示：2025年三季度，小微企业融资成本稳步下降，金融服务可得性和效率均有所提升

Core Insights - The "Inclusive Finance - Micro and Small Enterprises Index" 30th edition indicates a significant decrease in financing costs for micro and small enterprises by Q3 2025, with continuous growth in funding supply and improved accessibility and quality of financial services [1] - The index reflects a stable and positive development trend for micro and small enterprises, supported by robust financial backing and effective implementation of inclusive finance strategies [1] Financing Trends - By the end of September 2025, the balance of inclusive micro and small loans reached 36.1 trillion yuan, marking a year-on-year increase of 12.2%, driven by ongoing optimization of systems and innovation in product services [1] - The financing supply index rose to 209.45 points in Q3 2025, reflecting a quarter-on-quarter increase of 2.12%, indicating ample financing availability [1] - Over 70% of micro and small enterprises reported that the financing amounts met their needs, demonstrating high satisfaction with financing [1] Cost and Efficiency - The financing price index decreased to 65.32 points, down 4.92% quarter-on-quarter, indicating a steady decline in comprehensive financing costs for micro and small enterprises [4] - The average interest rate for newly issued loans (in both domestic and foreign currencies) in September was approximately 3.1%, which is about 40 basis points lower than the same period last year [4] - The financing efficiency index increased to 215.09 points, up 1.04% quarter-on-quarter, with nearly 60% of micro and small enterprises able to receive loans in a timely manner or even ahead of schedule [4] Service Quality and Accessibility - The inclusive finance service system and capabilities are continuously improving, as highlighted in the "Implementation Plan for High-Quality Development of Inclusive Finance in the Banking and Insurance Industries" [6] - The service accessibility index reached 203.47 points, reflecting a quarter-on-quarter increase of 3.02%, while the quality index rose to 111.76 points, up 0.31% [6] Industry Development - The inclusive finance development index remained stable at 52.48 points, with a slight quarter-on-quarter increase of 0.21% [9] - The China Small and Medium Enterprises Development Index for September was reported at 89.0, indicating a favorable trend for micro and small enterprises [9] - The business environment for micro and small enterprises continues to improve, with the inclusive finance - micro and small business index at 57.85 points, showing a slight increase of 0.02% [9] - Financing price indices across five major sample industries (wholesale and retail, manufacturing, leasing and business services, construction, and scientific research and technical services) have all decreased, reflecting the effectiveness of monetary policy measures [9]