The People’s Bank of China reported that inclusive financing loans increased by 3.26 trillion yuan (503.86 billion yuan) in the first half of this year, an increase of 832.4 billion yuan over the same period last year.
Inclusionary finance loans to small firms climbed by 2.65 trillion yuan, or 673.4 billion yuan, compared to the 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 amount of inclusive finance loans for farmers’ agricultural activities reached 6.59 trillion yuan, gaining 13.6% year on year.
The total amount 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.