The Shanghai headquarters of the People's Bank of China held a press conference for the fourth quarter of 2024 to introduce financial operations in Shanghai in the first three quarters of 2024. Lu Jinzhong, director of the monetary and credit research department at the central bank's Shanghai headquarters, said that under the impetus of various policies, the city's credit operations showed a trend of reasonable total growth, continuous structural optimization, and steady decline in interest rates, which strongly boosted the confidence of market players. At the end of September, the balance of local and foreign currency loans in Shanghai was 12.04 trillion yuan, up 9.2% year on year. The growth rate was 1.9 percentage points higher than at the end of the previous year, and 1.6 percentage points higher than the same period in the country. Looking at the increase, in the first three quarters, Shanghai's local and foreign currency loans increased by 860.7 billion yuan, an increase of 256.7 billion yuan over the same period last year. The growth rate of real estate loans is picking up. At the end of September, the city's RMB real estate loan balance was 2.79 trillion yuan, up 4.0% year on year, and the growth rate was 3.1 percentage points higher than at the end of the previous year.

The Shanghai headquarters of the People's Bank of China held a press conference for the fourth quarter of 2024 to introduce financial operations in Shanghai in the first three quarters of 2024. Lu Jinzhong, director of the monetary and credit research department at the central bank's Shanghai headquarters, said that under the impetus of various policies, the city's credit operations showed a trend of reasonable total growth, continuous structural optimization, and steady decline in interest rates, which strongly boosted the confidence of market players. At the end of September, the balance of local and foreign currency loans in Shanghai was 12.04 trillion yuan, up 9.2% year on year. The growth rate was 1.9 percentage points higher than at the end of the previous year, and 1.6 percentage points higher than the same period in the country. Looking at the increase, in the first three quarters, Shanghai's local and foreign currency loans increased by 860.7 billion yuan, an increase of 256.7 billion yuan over the same period last year. The growth rate of real estate loans is picking up. At the end of September, the city's RMB real estate loan balance was 2.79 trillion yuan, up 4.0% year on year, and the growth rate was 3.1 percentage points higher than at the end of the previous year.