Loan and Financing Data - In September 2024, new RMB loans amounted to 1.59 trillion, a year-on-year decrease of 720 billion[1] - The new social financing scale was 3.76 trillion, a year-on-year decrease of 372.2 billion[1] - The total loan balance at the end of September showed a growth rate of 8.1%, down 0.4 percentage points from the previous month[4] Monetary Supply Trends - The M2 growth rate at the end of September was 6.8%, an increase of 0.5 percentage points from the previous month[5] - M1 growth rate declined to -7.4%, a drop of 0.1 percentage points from the previous month[6] Economic Outlook - The new credit in September may represent the "last decrease" of the year, with expectations for an increase starting in October due to policy measures[2] - A potential 0.5 percentage point reduction in the reserve requirement ratio (RRR) is anticipated, releasing 1 trillion into the banking system[2] - The fourth quarter is expected to see a focus on increasing loans to "white list" projects in the real estate sector, with a recovery in residential mortgage balances[2]
2024年9月金融数据点评：9月新增信贷或为“最后一降”，一揽子增量政策将推动四季度金融数据较快上行
Dong Fang Jin Cheng·2024-10-17 10:30