The people's Bank of China recently held a press conference to interpret the financial statistics of the first quarter. The relevant person in charge of the people's Bank of China pointed out that in the first quarter, the liquidity was reasonable and abundant, the total financial volume increased steadily, the monetary policy was stable and appropriate, and the financial support for the real economy continued to increase. According to the data released by the people's Bank of China, China's RMB loans increased by 8.34 trillion yuan in the first quarter of this year, an increase of 663.6 billion yuan year-on-year. "In the first quarter, the people's Bank of China Guided financial institutions to strengthen financial support for the real economy and maintain reasonable and sufficient liquidity." Ruan Jianhong, director of the investigation and Statistics Department of the people's Bank of China, introduced that from the financial data of the first quarter, China's credit structure has been continuously optimized to serve the high-quality development of the economy. The people's Bank of China has given full play to the precise guiding role of structural monetary policy and strengthened its support for key areas and weak links of the national economy. From the perspective of credit structure, medium and long-term loans in manufacturing industry continued to grow at a high rate. At the end of March, the balance of medium and long-term loans in the manufacturing industry increased by 29.5%, 18.1 percentage points higher than the growth rate of various loans, of which the balance of medium and long-term loans in the high-tech manufacturing industry increased by 31.9%. The growth rate of medium and long-term industrial loans is relatively high. At the end of March, medium and long-term industrial loans increased by 20.7%, significantly faster than the growth rate of medium and long-term loans in all industries. Medium and long-term loans in export related industries grew rapidly. At the end of March, the growth rate of medium and long-term loans in export related industries was 31.8%, up 0.6 percentage points from the end of last month. At the same time, the comprehensive financing cost of enterprises has decreased steadily, reducing the operating cost of the real economy. In the first quarter, the people's Bank of China continued to improve the central bank's policy interest rate system, optimize the supervision of deposit interest rates, release the reform potential of the quoted interest rate (LPR) in the loan market, drive the one-year LPR and five-year LPR to drop by 10 basis points and 5 basis points respectively, and promote the reduction of comprehensive financing costs of enterprises. In March this year, the interest rate of newly issued enterprise loans was 4.37%, 8 basis points lower than that in December last year. "The people's Bank of China will continue to dredge the transmission mechanism of monetary policy, guide financial institutions to strengthen their services to the real economy through a variety of monetary policy tools, and enhance the stability of the growth of total credit. It is expected that the credit supply will continue to maintain a stable growth trend in the future." Ruan Jianhong said. In terms of social financing scale, according to preliminary statistics, the cumulative increment of China's social financing scale in the first quarter was 12.06 trillion yuan, 1.77 trillion yuan more than the same period last year. "This is mainly the result of the financial system's steady response to the new challenges facing economic development and increasing financial support for the real economy." Ruan Jianhong said that structurally, the RMB loans issued by financial institutions to the real economy increased by 8.34 trillion yuan in the first quarter, an increase of 425.8 billion yuan year-on-year, and the credit support to the real economy was enhanced. Meanwhile, the direct financing of enterprises maintained a rapid growth. In the first quarter, the net financing of corporate bonds increased by 1.31 trillion yuan, an increase of 405 billion yuan year-on-year, and the stock financing was 298.2 billion yuan, an increase of 51.5 billion yuan year-on-year. Ruan Jianhong said that in the next step, the people's Bank of China will make timely and flexible use of a variety of monetary policy tools, give better play to the dual functions of aggregate and structure, and increase support for the real economy. (Xinhua News Agency)