China's new yuan loans increase 2.02 trln yuan in H1

China's new yuan loans expanded by 2.02 trillion yuan (US$283 billion) in the first six months amid solid monetary policy support for the real economy, showed official data Friday.

China's new yuan-denominated loans totaled 15.73 trillion yuan in the first half of 2023. The majority of the newly-added loans went to key sectors, including manufacturing and infrastructure industries, said data from the People's Bank of China.

At the end of June, the balance of medium and long-term loans in the manufacturing sector surged 40.3 percent year on year, 10.7 percentage points higher than the same period last year.

In the meantime, the balance of medium and long-term loans in the infrastructure sector grew by 15.8 percent, picking up 3.3 percentage points from the same period last year.