Yuan-denominated loans in China rose by 16.02 trillion yuan (about 2.27 trillion U.S. dollars) in the first three quarters of the year, central bank data showed on Monday.
Lending to households increased by 1.94 trillion yuan, while corporate loans increased by 13.46 trillion yuan. Loans to non-banking financial institutions increased by 188.7 billion yuan.
The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 6.8 percent year on year to 309.48 trillion yuan at the end of September.
The M1, which covers cash in circulation plus demand deposits, stood at 62.82 trillion yuan at the end of September, down 7.4 percent year on year.
Social financing reached 25.66 trillion yuan in the first nine months, down 3.68 trillion yuan compared to the same period last year.
Outstanding yuan loans totaled 253.61 trillion yuan at the end of last month, marking an increase of 8.1 percent year on year, the data revealed.
China's yuan loans grow by 16.02 trln yuan in first 3 quarters
The 2024 World Vocational and Technical Education Development Conference was held in north China's Tianjin Municipality from Wednesday to Friday, spotlighting advancements and international partnerships in vocational training.
With the theme "Innovation Empowers the Future, Skills Enlighten New Lives," the conference hosted over 1,200 domestic and foreign representatives, including more than 600 overseas guests from over 100 countries and regions.
A major highlight was the establishment of the World Vocational and Technical Education Development Alliance, aimed at providing the most comprehensive, balanced, representative and inclusive international platform for vocational education, according to the organizers of the conference.
China's contributions to global vocational education were showcased, including the expansion of Luban Workshops to over 30 countries across Asia, Europe, and Africa. Named in honor of the ancient Chinese craftsman, engineer and inventor Lu Ban (507－444 B.C.), these workshops integrate academic education and skills training, offering 60 specialized programs in 14 disciplines.
According to official data, more than 200 vocational colleges in China have partnered with institutions across 70 countries and regions, established over 400 programs.
Li Fei, dean of the Railway Power Academy of the Tianjin Railway Vocational and Technical College, highlighted the success of the first Luban Workshop in Thailand.
"The Thailand Luban Workshop is the first of its kind established overseas by China, primarily focusing on the training of high-speed rail talents. Chinese and Thai educational institutions jointly formulated the teaching and curriculum standards for the workshop, aiming to provide a talent pool for the operation of the China-Thailand high-speed railway," Li said.
The conference also featured the World Vocational College Skills Competition, where top vocational talents competed, further strengthening international exchanges in technical education.
"China's experience in vocational and technical education plays a significant role globally and has already been promoted to many other countries," said Beisembayev Gani Bektaevich, Minister of Education of the Republic of Kazakhstan.
The conference was jointly sponsored by China's Ministry of Education, the Chinese National Commission for UNESCO, and the Tianjin municipal government.
Global collaboration in focus at 2024 Vocational Education Conference in Tianjin
