The Zhitong Finance App learned that on July 15, the central bank's Shanghai headquarters announced the financial and credit operations in Shanghai for the first half of 2024. At the end of June, Shanghai's local and foreign currency loan balance was 11.85 trillion yuan, up 8.6% year on year. The growth rate was 0.4 percentage points higher than at the end of last month. The RMB loan balance was 11.27 trillion yuan, up 9.7% year on year, 0.4 percentage points higher than at the end of the previous month; the foreign currency loan balance was 80.7 billion US dollars, down 7.6% year on year, and the decline was 1 percentage point narrower than at the end of the previous month.

The original text is as follows:

Monetary and credit operations in Shanghai in the first half of 2024

1. RMB loans increased by 684 billion yuan, and foreign currency loans decreased by 2 billion US dollars

At the end of June, Shanghai's local and foreign currency loan balance was 11.85 trillion yuan, up 8.6% year on year. The growth rate was 0.4 percentage points higher than at the end of last month. The RMB loan balance was 11.27 trillion yuan, up 9.7% year on year, 0.4 percentage points higher than at the end of the previous month; the foreign currency loan balance was 80.7 billion US dollars, down 7.6% year on year, and the decline was 1 percentage point narrower than at the end of the previous month.

In the first half of the year, RMB loans increased by 684 billion yuan, an increase of 160.7 billion yuan over the same period last year. By sector, loans to the household sector increased by 140.9 billion yuan, of which short-term loans increased 5.2 billion yuan and medium- to long-term loans increased by 135.7 billion yuan; enterprise (business) unit loans increased by 400.2 billion yuan, of which short-term loans increased by 97.3 billion yuan, medium- and long-term loans increased 262.1 billion yuan; and loans from non-banking financial institutions increased by 22.4 billion yuan. In June, RMB loans increased by 148.2 billion yuan, an increase of 52.8 billion yuan over the same period last year.

In the first half of the year, foreign currency loans decreased by 2 billion US dollars, a year-on-year decrease of 6 billion US dollars; in June, foreign currency loans decreased by 2.5 billion US dollars, a year-on-year decrease of 1.2 billion US dollars.

2. RMB domestic enterprise (business) business unit operating loans increased by 180.7 billion yuan

In the first half of the year, operating loans for domestic enterprises (businesses) in RMB increased by 180.7 billion yuan, a year-on-year decrease of 148.1 billion yuan; fixed asset loans and bill financing increased by 162.4 billion yuan and 6.9 billion yuan respectively, with year-on-year increases of 61.4 billion yuan and 102.4 billion yuan respectively; financial leasing and trade finance loans increased by 33.4 billion yuan and 20.5 billion yuan, respectively, compared with a year-on-year decrease of 24.1 billion yuan and 40.1 billion yuan, respectively.

3. RMB deposits increased by 786.8 billion yuan, and foreign currency deposits increased by 9.5 billion US dollars

At the end of June, the balance of local and foreign currency deposits in Shanghai was 21.3 trillion yuan, up 7.2% year on year. The growth rate was 0.5 percentage points lower than at the end of the previous month. The RMB deposit balance was 20.15 trillion yuan, up 7.4% year on year. The growth rate was 0.5 percentage points lower than at the end of the previous month; the foreign currency deposit balance was 162.4 billion US dollars, up 5.7% year on year, and 2.3 percentage points higher than at the end of the previous month.

In the first half of the year, RMB deposits increased by 786.8 billion yuan, an increase of 56 billion yuan over the same period last year. Among them, household deposits increased by 339.2 billion yuan, a year-on-year decrease of 145.2 billion yuan; non-financial corporate deposits decreased by 134.6 billion yuan, an increase of 144.8 billion yuan; fiscal deposits increased by 41.8 billion yuan, a year-on-year decrease of 53.5 billion yuan; and deposits of non-banking financial institutions increased by 405.3 billion yuan, an increase of 362.3 billion yuan over the previous year. In June, RMB deposits increased by 145.4 billion yuan, a year-on-year decrease of 80.3 billion yuan.

In the first half of the year, foreign currency deposits increased by 9.5 billion US dollars, an increase of 23.3 billion US dollars over the same period last year. In June, foreign currency deposits increased by 3 billion US dollars, an increase of 3.5 billion US dollars over the same period last year.

4. RMB personal time deposits increased by 282.2 billion yuan, and domestic non-financial enterprise time deposits increased by 211.5 billion yuan

In the first half of the year, time deposits, current deposits, and large deposit slips in RMB personal deposits increased by 282.2 billion yuan, 86.7 billion yuan and 57.7 billion yuan, respectively, a year-on-year decrease of 168.5 billion yuan, an increase of 160.7 billion yuan, and a decrease of 17.2 billion yuan, respectively; structured deposits and notification deposits decreased by 12.4 billion yuan and 82.6 billion yuan, respectively, compared with a year-on-year decrease of 24.4 billion yuan and 97.4 billion yuan respectively.

Time deposits, large deposit certificates and structured deposits of non-financial enterprises in RMB increased by 211.5 billion yuan, 87.4 billion yuan and 77.4 billion yuan respectively, with year-on-year increases of 173.7 billion yuan, 49.4 billion yuan and 9 billion yuan respectively; contract deposits increased by 24.2 billion yuan, a year-on-year decrease of 179.7 billion yuan; current deposits, notice deposits, and margin deposits decreased by 302.4 billion yuan and 196.7 billion yuan respectively billion yuan and 35.9 billion yuan, a year-on-year decrease of 212.6 billion yuan, 21.7 billion yuan, and a decrease of 37.1 billion yuan, respectively.

This article was selected from: WeChat account of the Shanghai headquarters of the People's Bank of China, Zhitong Finance: Chen Xiaoyi.