Technology, Financials Feb 11, 2022 08:49 AM (GMT+8)
CITIC Securities research report pointed out that the credit and social finance data in January reached a record high in a single month, and both exceeded consensus expectations. Steady growth has achieved initial results, and the market's confidence in the force of policies is expected to strengthen. In terms of credit, the medium and long-term loans of enterprises also reached a record high, and changed from the decline of about 200 billion year-on-year increase in the first five months to an increase of 60 billion year-on-year. Although the proportion of short-term loans and bill financing in corporate loans is still high, this is a common phenomenon in the early stage of social finance improvement, which also occurred in January 2019. New residential loans increased by 427 billion less than the same period last year, which continued to be dragged down by the slowdown in real estate sales. The fiscal front is obvious, the government debt financing continues to work, and the fiscal expenditure remains strong.
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