Finance is a mirror of the economy, reflecting the needs of the real economy. On the 13th, the People's Bank of China released major financial data. In the first quarter, the increase of social financing scale exceeded 15 trillion yuan, new loans reached 9.78 trillion yuan, and the M2 balance of broad money at the end of March increased by 7% year on year... All the data show that finance has maintained stable support for the real economy, and also reflects the continuous recovery of demand for the real economy. Since the beginning of this year, macroeconomic policies have continued to exert force, and financial institutions have also tapped into the potential to support the real economy, driving accelerated credit growth and increasing the growth rate of social financing scale. Data shows that in March, RMB loans increased by 3.64 trillion yuan, an increase of 547 billion yuan year-on-year; The increment of social financing scale was 5.89 trillion yuan, an increase of 1.06 trillion yuan year-on-year. At the same time as the financial system increases its monetary and credit supply, there have been more positive changes in the funding needs of enterprises and residents Wen Bin, Chief Economist of China Minsheng Bank, stated that the acceleration of major project construction, the recovery of effective credit demand from enterprises, and the emergence of highlights in the consumer market are all reflected in tangible demand. Where has the financial 'living water' been irrigated? Data shows that in the first quarter, loans to enterprises (institutions) increased by 8.66 trillion yuan, which means that more than 80% of the new loans were invested in enterprises. From the perspective of loan terms, more than 60% are medium - and long-term loans, which to some extent reflects the continuity and stability of corporate financing. Specifically, the credit structure continues to optimize, with the growth rate of inclusive small and micro loans and medium - to long-term loans in the manufacturing industry remaining at around 10%. The growth rate of loans for technology-based small and medium-sized enterprises exceeds 20%, highlighting the vitality of some areas with strong capital demand. The reporter learned from the People's Bank of China that at the end of March, the balance of inclusive small and micro loans was 34.81 trillion yuan, up 12.2% year on year; The balance of medium and long-term loans in the manufacturing industry was 14.8 trillion yuan, a year-on-year increase of 9.3%, both higher than the growth rate of various loans during the same period. At the same time, the financial system actively helps boost consumption, and the growth trend of consumer loans is improving. As of the end of February, Industrial and Commercial Bank of China has accumulated over 1.7 trillion yuan in personal consumer loans; The balance of personal consumption loans of Agricultural Bank of China increased by 16.9 billion yuan compared to the beginning of the year. Since the beginning of this year, the "combination punch" of real estate policies has continued to take effect, and there have been positive changes in real estate market transactions and social confidence, with some cities showing a more obvious trend of recovery. This is also confirmed by the financial sector. In the first quarter, household loans increased by 1.04 trillion yuan, with personal housing loans growing rapidly. Some branches have roughly doubled the amount of personal housing loans issued in March compared to the same period last year, and the phenomenon of early repayment has significantly decreased, "said a relevant person from a state-owned large bank. The loan interest rate is related to the financing cost of enterprises and also affects the loan burden of individuals. In the first quarter, loan interest rates remained at historically low levels, helping businesses and residents to "go into battle with light equipment". The reporter learned from the People's Bank of China that in March, the weighted average interest rate of new loans (local and foreign currency) issued by enterprises was about 3.3%, about 45 basis points lower than the same period last year; The weighted average interest rate for newly issued personal housing loans (in domestic and foreign currencies) is about 3.1%, which is about 60 basis points lower than the same period last year. Experts say that with the support of finance, the "dual" and "two new" policies have continued to demonstrate their demand driving effects, and the special action to boost consumption has been implemented in an orderly manner. Breakthroughs have been made in new fields such as artificial intelligence... From "living water" to vitality, the credit structure has been continuously optimized, adding momentum to China's economic development. How will finance make efforts in the next stage? The financial sector is implementing multiple measures, increasing collaboration, and deepening effective domestic demand to stabilize support Wen Bin stated that since the beginning of this year, the resolution of local government debt has steadily advanced, and the effectiveness of monetary policy regulation has been continuously enhanced. China's macroeconomic policies still have room and capacity to cope with external uncertainties. At the end of March, the Ministry of Finance announced that the first batch of special treasury bond of 500 billion yuan would be issued in 2025, and actively supported a number of large state-owned banks to supplement core tier one capital. Wang Qing, Chief Macro Analyst of Dongfang Jincheng, believes that using a combination of policies to supplement capital for state-owned banks can increase their capital safety cushion and further enhance their ability to serve the real economy. It is expected that this can leverage a credit increment of 4 trillion yuan in the future. Expand domestic demand, stabilize expectations, stimulate vitality, and promote sustained economic recovery and improvement. Recently, the Monetary Policy Committee of the People's Bank of China held its first quarter regular meeting and proposed to increase the intensity of monetary policy regulation, guide financial institutions to increase the intensity of money and credit supply, study and create new structural monetary policy tools, focus on supporting investment and financing in the field of scientific and technological innovation, promoting consumption and stabilizing foreign trade. (New Society)