Taizhou's domestic, foreign currency loans grow 2nd fastest in Jiangsu in H1

In the first half of this year, Taizhou city's domestic and foreign currency loans surged 18.77 percent year on year. The growth rate surpassed the national and provincial averages by 8.27 and 3.29 percentage points respectively, securing the second spot in Jiangsu province.

Key data indicates that the city's loans collectively increased by 129.8 billion yuan ($17.84 billion) during the first six months, marking a substantial year-on-year rise of 41.08 billion yuan. By the end of June, the total outstanding loan balance reached 994.75 billion yuan, growing by 18.77 percent.

The expansion of long-term loans was particularly notable. In H1, these loans grew by 94.73 billion yuan, almost doubling the same period from the previous year. They accounted for 72.98 percent of the total loan increase, exhibiting a 16.08 percentage point year-on-year increase. As of the end of June, the outstanding balance of long-term loans reached 610.13 billion yuan, reflecting a 22.93 percent year-on-year growth rate, a 4.4 percentage point increase from the previous year.

Corporate loans also showcased strong growth. A total of 118.83 billion yuan was added in corporate loans during the first half of the year, a notable year-on-year increase of 37.26 billion yuan and making up 91.54 percent of the total loan increment. By the end of June, the outstanding balance of corporate loans stood at 738.47 billion yuan, a 23.88 percent growth rate, which was 2.8 percentage points higher than the previous year, securing the sixth position in the provincial ranking.

The manufacturing sector experienced steady growth in loans. The first half of the year witnessed an increase of 17.04 billion yuan in manufacturing industry loans, a substantial year-on-year growth of 2.79 billion yuan. Among these, long-term loans for the manufacturing sector surged by 11.34 billion yuan, a significant increase of 2.9 billion yuan compared to the previous year.