China's inclusive finance sector maintains rapid loan growth

BEIJING - China's inclusive finance sector maintained fast loan expansion from the end of June 2021 to the end of June 2022 as the country steps up credit support for the real economy, a central bank report showed.

Outstanding RMB loans for inclusive finance purposes reached 29.91 trillion yuan ($4.43 trillion) by the end of June, climbing 20.8 percent from the previous year, according to the People's Bank of China.

In the first half of 2022, the country saw its outstanding inclusive finance loans increase by 3.41 trillion yuan.

The inclusive finance field saw the outstanding small- and micro-loans expand 23.8 percent from the end of June 2021 to the end of June 2022, the report showed.