人民银行上海总部召开2026年第一季度新闻发布会

Core Viewpoint - In 2025, the Shanghai headquarters of the People's Bank of China implemented a moderately loose monetary policy, resulting in a significant increase in social financing and direct financing, alongside a reasonable growth in credit and a steady decline in financing costs [2][19]. Financing and Credit Situation - The total social financing in Shanghai increased by 1.1632 trillion yuan, a year-on-year increase of 102.1 billion yuan, effectively meeting the financing needs of the real economy [3][20]. - The structure of financing improved, with RMB loans to the real economy increasing by 658.9 billion yuan, accounting for 56.6% of the financing increment. Direct financing rose by 341.9 billion yuan, making up 29.4% of the total, a year-on-year increase of 15 percentage points [3][20]. - By the end of December, the balance of loans in both domestic and foreign currencies reached 13.07 trillion yuan, a year-on-year growth of 6.5%, which is 0.3 percentage points higher than the national average [4][21]. - The weighted average interest rate for newly issued corporate loans in December was 2.64%, down 38 basis points from the previous year, marking a historical low [4][21]. Deposit Growth - By the end of December, the balance of deposits in both domestic and foreign currencies reached 24.5 trillion yuan, a year-on-year increase of 11.3%, which is 2.3 percentage points higher than the national average [5][22]. - Household deposits grew by 9.1% year-on-year, while non-financial enterprise deposits increased by 5.3% [5][22]. Foreign Exchange and Cross-Border Transactions - In 2025, Shanghai's foreign exchange receipts and payments reached a total of 5.66 trillion USD, accounting for over 36% of the national total, with a year-on-year growth of 14.3% [6][24]. - The total amount of cross-border RMB payments reached 32.4 trillion yuan, a year-on-year increase of 9%, maintaining a 46% share of the national total [8][26]. - The direct investment foreign exchange receipts and payments totaled a year-on-year increase of 5.8%, with securities investment receipts and payments growing by over 19% [7][25]. Policy Initiatives and Future Plans - The Shanghai headquarters will continue to implement a moderately loose monetary policy and promote financial reforms to support the "14th Five-Year Plan" and the construction of the Shanghai International Financial Center [12][30]. - The upgrade of the free trade account function aims to enhance cross-border trade and investment facilitation, with significant participation from banks and enterprises [14][31]. - The green foreign debt pilot program has been initiated to support enterprises in green and low-carbon transformation projects, with financing exceeding 64 million USD (approximately 450 million yuan) [16][34].