On July 29, the Shanghai headquarters of the People's Bank of China held a press conference for the third quarter of 2026 to introduce financial operations in Shanghai in the first half of this year and answer questions from reporters. It was revealed at the conference that at the end of June, Shanghai's local and foreign currency loan balance was 13.60 trillion yuan, up 5.9% year on year. In terms of growth, local and foreign currency loans increased by 531.5 billion yuan in the first half of the year. In terms of financing costs, in June, the weighted average interest rate for newly issued corporate loans in Shanghai was 2.58%, down 16 basis points from the same period last year, and is at an all-time low. Among them, the weighted average interest rate for small and micro enterprise loans was 2.83%, down 16 basis points from the same period last year. In terms of deposits, the balance of local and foreign currency deposits in Shanghai as of the end of June was 25.40 trillion yuan, an increase of 10.9% over the previous year. In terms of growth, local and foreign currency deposits increased by 897.2 billion yuan in the first half of the year. By sector, household deposit balances increased 6.3% year over year, non-financial enterprise deposit balances increased 6.1% year over year, and non-bank financial institution deposit balances increased 33.5% year over year.
Zhitongcaijing · 3d ago
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On July 29, the Shanghai headquarters of the People's Bank of China held a press conference for the third quarter of 2026 to introduce financial operations in Shanghai in the first half of this year and answer questions from reporters. It was revealed at the conference that at the end of June, Shanghai's local and foreign currency loan balance was 13.60 trillion yuan, up 5.9% year on year. In terms of growth, local and foreign currency loans increased by 531.5 billion yuan in the first half of the year. In terms of financing costs, in June, the weighted average interest rate for newly issued corporate loans in Shanghai was 2.58%, down 16 basis points from the same period last year, and is at an all-time low. Among them, the weighted average interest rate for small and micro enterprise loans was 2.83%, down 16 basis points from the same period last year. In terms of deposits, the balance of local and foreign currency deposits in Shanghai as of the end of June was 25.40 trillion yuan, an increase of 10.9% over the previous year. In terms of growth, local and foreign currency deposits increased by 897.2 billion yuan in the first half of the year. By sector, household deposit balances increased 6.3% year over year, non-financial enterprise deposit balances increased 6.1% year over year, and non-bank financial institution deposit balances increased 33.5% year over year.
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