Analysis of China's social financing scale and financing structure in 2021: RMB loans to the real economy account for more than 60%[figure]

financing , English is financing, In a narrow sense , That is, the behavior and process of fund-raising of an enterprise . In a broad sense , Financing is also called Finance , It is the financing of monetary funds , The party concerned raises or lends funds in the financial market through various means .

Definition of financing

source ： Zhiyan consultation and arrangement

The scale of social financing is used to measure the financial capital flowing into the real economy , Its growth promotes the development of China's real economy ,1991 When Comrade Deng xiaoping visited Shanghai in, he pointed out that ：“ Finance is very important , Is the core of modern economy , The finance has done well , A move of chess , All live .” It can be seen from this that the top government officials have paid close attention to finance Gradually attach importance to .

In recent years , The state has issued a series of policies to vigorously support the social financing industry , Policies and plans for the development of the social financing industry are constantly coming out , It provides a good policy environment for the sustainable development of the industry .

Policies and regulations related to social financing

source ： Zhiyan consultation and arrangement

With the development of China's economy and the deepening of marketization , Social financing structure has become an important indicator of China's financial reform and development . According to the preliminary statistics of the people's Bank of China ,2021 The cumulative increment of social financing scale in is 31.35 Trillion yuan , Younger than last year 3.44 Trillion yuan , Than 2019 More years 5.68 Trillion yuan .

2015-2021 The increment and growth of China's social financing scale in （ Company ： Trillion yuan 、%）

source ： People's Bank of China 、 Zhiyan consultation and arrangement

The scale of social financing can be divided into on balance sheet financing 、 Off balance sheet financing 、 Direct financing and other financing , In the table are RMB loans and foreign currency loans ; Off balance sheet financing is divided into entrusted loans 、 Trust loans and undiscounted bank acceptances ; Direct financing is corporate bond financing .

In recent years , The total amount of social financing in China is increasing , The financing structure has been continuously optimized .2021 In, RMB loans to the real economy accounted for% of the social financing scale in the same period 63.6%; The proportion of foreign currency loans issued to the real economy converted into RMB 0.5%; Proportion of entrusted loans -0.5%; Proportion of trust loan -6.4%; Proportion of undiscounted bank acceptance bills -1.6%; Proportion of corporate bonds 10.5%; Proportion of government bonds 22.4%; The proportion of domestic stock financing of non-financial enterprises 3.9%.

2021 The scale and structure of China's social financing in

source ： People's Bank of China 、 Zhiyan consultation and arrangement

2021 In, finance returned to its original source , Implement the policy requirements of serving the real economy , Continue to increase credit support . RMB loans granted by China to the real economy 19.94 Trillion yuan , Less than last year 907 One hundred million yuan , Of the social finance in the same period 63.6%.

2015-2021 RMB loans granted by China to the real economy and its growth in （ Company ： Trillion yuan 、%）

source ： People's Bank of China 、 Zhiyan consultation and arrangement

In the past two years , China's foreign currency loans to the real economy have increased in RMB ,2021 In, China's foreign currency loans to the real economy increased in RMB 1715 One hundred million yuan , Compared with the gain 265 One hundred million yuan .

2015-2021 Foreign currency loans granted by China to the real economy in （ Company ： One hundred million yuan ）

source ： People's Bank of China 、 Zhiyan consultation and arrangement

Entrusted loan refers to the loan granted by the trust institution according to the requirements specified by the trustor . Trust loan means that the trustee accepts the entrustment of the trustor , The funds deposited by the principal , By （ Or trust plan ） Specified objects 、 purpose 、 Time limit 、 Interest rate and amount, etc , It is also responsible for a financial business to recover the principal and interest of the loan at maturity .

2020 Entrusted loans in China decreased in 0.4 Trillion yuan , Year on year decrease 5442 One hundred million yuan ; Trust loans decreased 1.1 Trillion yuan , More than a year ago 7553 One hundred million yuan .2021 Entrusted loans in China decreased in 0.17 Trillion yuan , Year on year decrease 2258 One hundred million yuan ; Trust loans decreased 2.01 Trillion yuan , More than a year ago 9054 One hundred million yuan .

2015-2021 Increase in entrusted loans and trust loans in China in

source ： People's Bank of China 、 Zhiyan consultation and arrangement

In recent years , With the change of monetary policy , The scale of on balance sheet loans of commercial banks is strictly controlled , Commercial paper business has developed rapidly .2020 Undiscounted bank acceptance bills in China increased in 0.17 Trillion yuan , Compared with the gain 6503 One hundred million yuan ;2021 Undiscounted bank acceptance bills in China decreased in 0.49 Trillion yuan , More than a year ago 6662 One hundred million yuan .

2015-2021 Undiscounted bank acceptance bills in China in

source ： People's Bank of China 、 Zhiyan consultation and arrangement

The bond market is an important part of the capital market , It is an important channel for direct financing of enterprises .2020 Net financing of Chinese corporate bonds in 4.45 Trillion yuan , Over the same period last year 1.11 Trillion yuan ;2021 Net financing of Chinese corporate bonds in 3.29 Trillion yuan , Less than the same period last year 1.09 Trillion yuan .

2015-2021 Net financing amount and growth of Chinese corporate bonds in （ Company ： Trillion yuan 、%）

source ： People's Bank of China 、 Zhiyan consultation and arrangement

Issuing local government special bonds is an important measure to support regional economic development , Preventing and controlling the default risk of local government special bonds is of great significance to stabilizing regional economic growth .2019 Issued by the general office of the CPC Central Committee and the general office of the State Council in 《 Notice on the issuance of special bonds by local governments and the supporting financing of projects 》, To implement the Party Central Committee 、 Decisions and arrangements of the state council , Increase the counter periodic adjustment , Give better play to special bonds of local governments （ Hereinafter referred to as special bonds ） The important role of , We will strive to increase support for key areas and weak links , Increase effective investment 、 Optimize the economic structure 、 Stable total demand , Maintain sustained and healthy economic development .

2019 Net financing of Chinese government bonds in 4.72 Trillion yuan , Less than the same period last year 1327 One hundred million yuan ;2020 Net financing of Chinese government bonds in 8.34 Trillion yuan , Over the same period last year 3.62 Trillion yuan ;2021 Net financing of Chinese government bonds in 7.02 Trillion yuan , Less than the same period last year 1.31 Trillion yuan .

2017-2021 Net financing and growth of Chinese local government special bonds in （ Company ： Trillion yuan 、%）

source ： People's Bank of China 、 Zhiyan consultation and arrangement

Domestic stock financing of non-financial enterprises is one of the channels of social financing , It should be understood as the amount of funds obtained by non-financial enterprises by issuing shares in China , The caliber should include IPO Financing and fixed increment, etc . According to the data of the people's Bank of China in ,2021 Domestic stock financing of Chinese non-financial enterprises 12357 Trillion RMB , In the whole stock of social finance 3.90%, It can be seen that China's equity financing channels still have great room for development .

2015-2021 Domestic stock financing and growth of Chinese non-financial enterprises in （ Company ： Trillion yuan 、%）

source ： People's Bank of China 、 Zhiyan consultation and arrangement