Review and Prospect of China’s banking development in the first half of 2021 From Deloitte Consulting
The following is the Review and Prospect of China’s banking development in the first half of 2021 From Deloitte Consulting recommended by recordtrend.com. And this article belongs to the classification: Deloitte Consulting , research report.
In the first half of 2021, the global economy generally maintained a recovery trend. China has achieved positive results in comprehensively promoting epidemic prevention and control and economic and social development. Its economic development has shown a steady, medium and long-term trend. Industrial production has continued to recover, the growth rate of high-tech manufacturing has accelerated, the service market has continued to improve, exports have maintained rapid growth, and the endogenous driving forces such as consumption and manufacturing investment have gradually increased, The pulling effect on the economy has been significantly improved. In the first half of the year, GDP increased by 12.7% year-on-year, and the industrial producer price index (PPI) increased by 5.1% year-on-year. At the same time, the Chinese government has accurately implemented macro policies to maintain the continuity, stability and sustainability of macro policies. At the end of June 2021, the balance of broad money (M2) was 231.78 trillion yuan, a year-on-year increase of 8.6%, the growth rate increased by 0.3 percentage points month on month, and decreased by 2.5 percentage points over the same period of last year; The balance of domestic and foreign currency loans was 191.62 trillion yuan, a year-on-year increase of 11.9%. With the steady economic situation, China’s banking industry has also recovered a good development trend. While actively supporting the recovery of the real economy and steadily coping with various risks and challenges, the banking industry is also actively exploring new drivers and new ideas for development, and has made some achievements. In the first half of 2021, the scale of banking assets increased reasonably, the credit structure was further optimized, the profitability continued to enhance, the asset quality tended to improve, the overall capital remained at an adequate level, and the operating performance was stable, laying a good foundation for high-quality development during the “14th five year plan” period.
In the second half of 2021, the global economy is expected to continue to recover, but there are still many unstable factors. We believe that China’s banking industry will adhere to the spirit of the Fifth Plenary Session of the 19th CPC Central Committee and the central economic work conference, comprehensively, accurately and completely implement the new development concept based on the new development stage, actively serve to build a new development pattern, continuously increase support for the real economy, implement the policy of reducing fees and transferring profits, and effectively meet the financing needs of society, Comprehensively promote a new journey of high-quality development.
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