The direction of the newly added RMB loans worth 16.27 trillion yuan for the whole year of 2025 has been clarified. On January 27th, the People's Bank of China released a statistical report on the investment direction of financial institution loans for the fourth quarter of 2025. The data shows that by the end of the fourth quarter of 2025, the balance of various RMB loans of financial institutions was 271.91 trillion yuan, a year-on-year increase of 6.4%, and the total RMB loans for the year increased by 16.27 trillion yuan. Among them, the growth rate of loans to enterprises and institutions has rebounded, inclusive small and micro loans have grown rapidly, the growth rate of real estate loans has slowed down, and loan support for science and technology innovation enterprises is relatively strong. Specifically, by the end of the fourth quarter of 2025, the balance of loans for domestic and foreign currency enterprises and institutions was 186.21 trillion yuan, a year-on-year increase of 8.9%, with a growth rate 0.7 percentage points higher than the end of the previous quarter, and an increase of 15.24 trillion yuan for the whole year. In terms of installment limit, the balance of short-term loans and bill financing was 64.16 trillion yuan, a year-on-year increase of 11.0%, and an increase of 6.37 trillion yuan for the whole year; The balance of medium and long-term loans was 118.39 trillion yuan, a year-on-year increase of 7.9%, and an increase of 8.69 trillion yuan for the whole year. In terms of usage, the balance of fixed asset loans was 77.52 trillion yuan, a year-on-year increase of 6.9%, and an increase of 5.03 trillion yuan for the whole year; The balance of operating loans was 75.91 trillion yuan, a year-on-year increase of 9.5%, and an increase of 6.62 trillion yuan for the whole year. In terms of personal loans, household consumption loans and business loans have maintained growth. The report shows that by the end of the fourth quarter of 2025, the balance of domestic and foreign currency household loans was 83.28 trillion yuan, a year-on-year increase of 0.5%, and an increase of 441.2 billion yuan for the whole year. Among them, the balance of operating loans was 25.11 trillion yuan, a year-on-year increase of 4.0%, and an increase of 937.8 billion yuan for the whole year. The balance of consumer loans excluding personal housing loans was 21.16 trillion yuan, a year-on-year increase of 0.7%, and an increase of 180.2 billion yuan for the whole year. Real estate loans have slowed down, with a decrease in both development loans and personal housing loans. Data shows that by the end of the fourth quarter of 2025, the balance of RMB real estate loans was 51.95 trillion yuan, a year-on-year decrease of 1.6%, and a decrease of 963.6 billion yuan for the whole year. At the end of the fourth quarter of 2025, the balance of real estate development loans was 1.316 trillion yuan, a year-on-year decrease of 3.0%, and a decrease of 357.5 billion yuan for the whole year. The balance of personal housing loans was 37.01 trillion yuan, a year-on-year decrease of 1.8%, and a decrease of 676.8 billion yuan for the whole year. Inclusive small and micro loans have maintained rapid growth and their coverage continues to expand. At the end of the fourth quarter of 2025, the balance of RMB inclusive small and micro loans was 36.57 trillion yuan, a year-on-year increase of 11.1%, with a growth rate 4.7 percentage points higher than various loans, and an increase of 3.63 trillion yuan for the whole year. The balance of operating loans for farmers with single household credit less than 5 million yuan is 9.81 trillion yuan, an increase of 241.4 billion yuan for the whole year. The balance of student loans was 372.5 billion yuan, a year-on-year increase of 32.5%. The support for loans to science and technology innovation enterprises has not decreased, and the loan acquisition rate has steadily increased. By the end of the fourth quarter of 2025, 275000 technology-based small and medium-sized enterprises had received loan support, with a loan acquisition rate of 50.2%, which was 2 percentage points higher than the end of the previous year. The balance of loans for technology-based small and medium-sized enterprises in both domestic and foreign currencies was 3.63 trillion yuan, a year-on-year increase of 19.8%, with a growth rate 13.6 percentage points higher than that of various loans. At the end of the fourth quarter of 2025, 265400 high-tech enterprises received loan support, with a loan acquisition rate of 57.3%, 0.4 percentage points higher than the end of the previous year. The balance of loans for high-tech enterprises in both domestic and foreign currencies was 18.61 trillion yuan, a year-on-year increase of 7.5%, which was 1.3 percentage points higher than the growth rate of various loans. By 2025, the central bank will comprehensively utilize various monetary policy tools, improve the financial market system and mechanism, and promote more accurate and efficient flow of financial resources to key areas and weak links. ”Dong Ximiao, Chief Researcher of the China Merchants Association, stated that looking ahead, the "15th Five Year Plan" proposal will guide financial institutions to focus on key areas such as manufacturing, technological innovation, and green finance. How to make good use of their own resource endowments and promote the continuous deepening of the "five major articles" will become an important issue for the next five years. (New Society)