China-Financing Support/Real Economy

Shotlist

FILE: Beijing, China – Date Unknown (CCTV – No access Chinese mainland)
1. People’s Bank of China

FILE: Shanghai, China – Exact Date Unknown (CCTV – No access Chinese mainland)
2. Bank clerks at service hall
3. Various of clerk using cash-counting machine to count Chinese yuan banknotes

FILE: China – 2021 (CCTV – No access Chinese mainland)
4. Bank clerks of China Construction Bank serving customers
5. Various of bank clerk counting Chinese yuan banknotes, cash-counting machine working
6. Bank counters providing service for companies, staff working

FILE: Guangzhou City, Guangdong Province, south China – Sept 2021 (CCTV – No access Chinese mainland)
7. People at bank
8. Blank clerk working
9. Bank manager helping customers apply e-CNY mobile wallets

Beijing, China – Recent (CCTV – No access Chinese mainland)
10. SOUNDBITE (Chinese) Wen Bin, chief economist, China Minsheng Bank:
“The demand for loan recovered significantly, and the loan structure was significantly optimized. The financial data in June is much better than expectation, indicating that the macroeconomic recovery continues to improve.”

FILE: Shanghai, China – October, 2021 (CGTN – No access Chinese mainland)
11. Various of robotic arms working in factory

Qingdao City, Shandong Province, east China – Recent(CCTV – No access Chinese mainland)
12. Various of production lines of washing machines

Qingdao City, Shandong Province, east China – Recent (CCTV – No access Chinese mainland)
13. Various of consumers at store selling new brand domestic appliances; woman trying air conditioner
14. Various of salesperson introducing air conditioners to potential buyers
15. Consumer selecting washing machine at mall

Storyline

China saw an increase of the aggregate financing to the real economy in the first half of 2022, indicating that China’s financing sector has shored up the support to the real economy, data from the central bank showed.

According to data released by the People’s Bank of China on Monday, the aggregate financing to the real economy stood at 21 trillion yuan (3.121 trillion U.S. dollars) in the first six months of 2022, up 3.2 trillion yuan (475.58 billion U.S. dollars) from the same period of 2021.

The outstanding aggregate financing to the real economy reached 334.27 trillion yuan (about 49.68 billion U.S. dollars) at the end of June, increasing 10.8 percent year on year. Specifically, outstanding RMB loans to the real economy posted a 11.1-percent year-on-year growth, according to the data.

It shows that the financial sector has cranked up its support to the real economy through monetary policies, according to Guan Tao, global chief economist at BOC International.

With the implementation of policies to stabilize growth, the loan structure has showed positive signs of improvement, and the easy monetary policy is accelerating its force on to the credit easing, according to experts.

“The demand for loan recovered significantly, and the loan structure was significantly optimized. The financial data in June is much better than expectation, indicating that the macroeconomic recovery continues to improve,” said Wen Bin, chief economist from China Minsheng Bank.