In the first half of the year, China’s inclusive financing loans increased

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People’s Bank of China reported that inclusive loans increased by 3.26 trillion yuan (503.86 billion yuan) in first half of this year, an increase of 832.4 billion yuan over the same period last year.

At end of June, the balance of inclusive loans amounted at 24.76 trillion yuan, up 25.5 percent year on year and 1.3 percentage points higher than at end of 2020.

Inclusionary finance loans to small firms climbed by 2.65 trillion yuan, or 673.4 billion yuan, compared to same period the previous year. By the end of June, the total value of such loans had risen by 31% year on year to 17.74 trillion yuan.

The total of inclusive finance loans for farmers’ agricultural reached 6.59 trillion yuan, gaining 13.6% year on year.

The total of start-up guarantee loans was 229.3 billion yuan, up 32.9% from the previous year. Student loan balances totaled 123.8 billion yuan, up 11.2 percent from the previous year.

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