Report: RMB cross-border receipts and payments from January to September this year amounted to 39 trillion yuan

The Report of the State Council on Financial Work (hereinafter referred to as the "Report") was submitted to the Standing Committee of the 14th National People's Congress for deliberation on the 21st. According to the report, the cross-border collection and payment scale of RMB from January to September 2023 is 39 trillion yuan, up 23% year on year, making RMB the largest cross-border collection and payment currency in China.

The report introduces the financial work since the fourth quarter of 2022. According to the report, since 2023, the deposit reserve ratio of financial institutions has been lowered twice by 0.5 percentage points, releasing long-term liquidity of more than 1 trillion yuan. We will guide financial institutions to maintain an appropriate amount of credit and a steady pace. By the end of September 2023, the supply of broad money had increased by 10.3% year on year, and the stock of social financing scale had increased by 9.0% year on year, which strongly supported economic recovery while maintaining price stability.

According to the report, financial institutions in the banking, insurance and securities industries are generally stable, and the financial market is running smoothly. The operating and regulatory indicators of financial institutions are in a reasonable range. By the end of June 2023, the total assets of financial institutions were 449.21 trillion yuan. The capital adequacy ratio and non-performing loan ratio of commercial banks were 14.66% and 1.62% respectively.

In terms of preventing and resolving hidden financial risks, the report points out that we should continue to prevent and resolve major financial risks, ensure that financial risks are controllable as a whole, and continue to deal with risks of small and medium-sized financial institutions. From January to August 2023, the banking financial institutions have disposed 1.5 trillion yuan of non-performing assets in total.

In terms of financial support for the real economy, the report said that since the fourth quarter of 2022, we have vigorously developed inclusive finance and supported the development of private enterprises and small and micro enterprises. As of the end of September, the balance of inclusive small and micro loans was 28.74 trillion yuan, up 24.1% year on year; The number of credit granting accounts exceeded 61.07 million, up 13.3% year on year.

The report points out that the next step will be to continue to implement a sound monetary policy, comprehensively strengthen and improve financial supervision, continue to improve the ability of financial services to the real economy, continue to deepen financial reform and opening up, actively and steadily prevent and resolve financial risks, and strive to maintain the stable operation of the financial market.

key word: finance presentation financial institution Collection and payment