On February 14, 2025, the People's Bank of China released its financial institutions loan allocation statistics report for the fourth quarter of 2024.

According to the People's Bank of China, by the end of the fourth quarter of 2024, the balance of RMB loans from financial institutions was 255.68 trillion yuan, an increase of 7.6% year-on-year, with a total increase of 18.09 trillion yuan for the entire year.

1. Steady Growth of Loans to Enterprises and Institutions

By the end of the fourth quarter of 2024, the balance of RMB and foreign-currency loans to enterprises and institutions was 171.01 trillion yuan, a year-on-year increase of 8.9%, with an annual increase of 13.96 trillion yuan.

By term:

Short-term loans and bill financing amounted to 57.81 trillion yuan, up by 7.3%, with an annual increase of 3.92 trillion yuan.

Medium and long-term loans amounted to 109.72 trillion yuan, up by 10%, with an annual increase of 9.94 trillion yuan.

By purpose:

Fixed asset loans amounted to 72.49 trillion yuan, up by 10%, with an annual increase of 6.56 trillion yuan.

Operational loans amounted to 69.33 trillion yuan, up by 7.7%, with an annual increase of 4.96 trillion yuan.

2. High Growth Rate of Medium and Long-Term Loans in the Industrial, Service, and Infrastructure Sectors

By the end of the fourth quarter of 2024:

The balance of RMB and foreign-currency medium and long-term loans in the industrial sector was 24.58 trillion yuan, up by 12.6%, with an annual increase of 2.8 trillion yuan.

Heavy industry loans amounted to 20.96 trillion yuan, up by 12.6%.

Light industry loans amounted to 3.61 trillion yuan, up by 12.8%.

The balance of RMB and foreign-currency medium and long-term loans in the service sector was 67.59 trillion yuan, up by 8.2%, with an annual increase of 5.03 trillion yuan.

Excluding the real estate industry, service sector loans grew by 8.5% year-on-year.

Real estate loans grew by 7.1%, up by 2.8 percentage points compared to the end of the previous year.

The balance of RMB and foreign-currency medium and long-term loans in infrastructure-related industries was 40.92 trillion yuan, up by 8.9%, with an annual increase of 3.39 trillion yuan.

3. Fast Growth of Loans in Inclusive Finance Sectors

By the end of the fourth quarter of 2024:

The balance of RMB inclusive micro and small enterprise loans was 32.93 trillion yuan, up by 14.6%, with an annual increase of 4.2 trillion yuan.

Agricultural household loans amounted to 10.38 trillion yuan, up by 12.3%.

Student loans amounted to 281.1 billion yuan, up by 28.7%.

Loans to people lifted out of poverty amounted to 1.25 trillion yuan, up by 8.4%.

4. Rapid Growth of Green Loans

By the end of the fourth quarter of 2024:

The balance of RMB and foreign-currency green loans was 36.6 trillion yuan, up by 21.7%, with an annual increase of 6.52 trillion yuan.Loans for projects with direct and indirect carbon reduction benefits were 12.25 trillion yuan and 12.44 trillion yuan, respectively, accounting for 67.5% of the total green loan balance.

By purpose:

Infrastructure green upgrade industries, clean energy industries, and energy-saving and environmental protection industries loans amounted to 15.68 trillion yuan, 9.89 trillion yuan, and 5.04 trillion yuan, respectively, with year-on-year growth of 19.8%, 25.6%, and 19.6%.Annual increases were 2.6 trillion yuan, 2.02 trillion yuan, and 824.4 billion yuan, respectively.

By industry:

Green loans to the electricity, heating, gas, and water production and supply industries amounted to 8.85 trillion yuan, up by 20.9%, with an annual increase of 1.52 trillion yuan.

Green loans to transportation, storage, and postal industries amounted to 5.92 trillion yuan, up by 11.5%, with an annual increase of 614.5 billion yuan.

5. Continued Growth of Agricultural Loans

By the end of the fourth quarter of 2024, the balance of RMB and foreign-currency agricultural loans was 51.36 trillion yuan, up by 9.8%, with an annual increase of 4.65 trillion yuan.

Rural loans amounted to 36.94 trillion yuan, up by 10%, with an annual increase of 3.38 trillion yuan.

Household loans amounted to 18.23 trillion yuan, up by 8.2%, with an annual increase of 1.38 trillion yuan.

Agricultural loans amounted to 6.36 trillion yuan, up by 9.8%, with an annual increase of 575.3 billion yuan.

6. Recovery of Growth Rate in Real Estate Loans

By the end of the fourth quarter of 2024:

The balance of RMB real estate development loans was 13.56 trillion yuan, up by 3.2%, with an annual increase of 412.5 billion yuan.

The balance of personal housing loans was 37.68 trillion yuan, down by 1.3%, with an annual increase of 0.3 percentage points.

The total balance of real estate loans (RMB) was 52.8 trillion yuan, down by 0.2%, with an annual increase of 0.8 percentage points compared to the end of the previous year.

7. Strong Support for Sci-Tech Enterprises

By the end of the fourth quarter of 2024:

A total of 262,500 small and medium-sized tech enterprises received loans, with a loan approval rate of 46.9%, up by 2.1 percentage points compared to the same period last year.

The balance of loans for small and medium-sized tech enterprises was 3.27 trillion yuan, up by 21.2%, with an annual growth rate 14 percentage points higher than that of overall loans.

A total of 258,100 high-tech enterprises received loans, with a loan approval rate of 55.7%, up by 1.9 percentage points compared to the same period last year.

The balance of loans for high-tech enterprises was 15.63 trillion yuan, up by 7.5%, with an annual growth rate 0.3 percentage points higher than that of overall loans.

8. Continued Growth in Household Consumption Loans

By the end of the fourth quarter of 2024, the balance of RMB and foreign-currency household loans was 82.84 trillion yuan, up by 3.4%, with an annual increase of 2.72 trillion yuan.

Business loans amounted to 24.14 trillion yuan, up by 9%, with an annual increase of 1.98 trillion yuan.

Consumption loans (excluding personal housing loans) amounted to 21.01 trillion yuan, up by 6.2%, with an annual increase of 1.24 trillion yuan.