Loans to China's emerging sectors grow amid increased liquidity in banking system

Emerging sectors in China posted growing demands for loan as of September, according to the data released by People's Bank of China (PBOC) Monday, as the liquidity in the country's banking system increases following a slew of favorable monetary policies.

The data from PBOC, the central bank of China, showed that at the end of September, the M2, a broad measure of money supply that covers cash in circulation and all deposits, increased by 6.8 percent year over year to about 310 trillion yuan (over 43 trillion U.S. dollars).

In the first three quarters, loans in RMB increased by over 16 trillion yuan, the data showed. By late September, long and medium-term loans to China's high-tech manufacturing industry increased by 12 percent year over year. The loan issued to specialized and sophisticated enterprises posted an over 13-percent year-on-year growth. The weighted average interest rate of the newly released individual housing loans stood at a low level of slightly above 3 percent, 78 basis points lower than the same period of last year.

"Traditional sectors like the property sector and the regional financing platforms showed decreased demand for loans. With the new growth momentums, like the green development and the technological innovation, taking shape at a faster pace, the structure of loan has been improving, which will further increase support for the strategic, key and weak sectors," said Dong Ximiao, chief researcher of the Merchants Union Consumer Finance Company Limited.

In September, PBOC has rolled out a slew of policies aimed at keeping liquidity in the banking system reasonable and ample. It cut the interest rate of the seven-day reverse repos by 0.2 percentage points to 1.5 percent and reducing the reserve requirement ratio (RRR) by 0.5 percentage points. A further cut of RRR by 0.25 to 0.5 percentages is also possible within this year, PBOC said.

"As the growth of domestic demand slows, these monetary policies on counter-cyclical adjustments are set to produce real supports and achieve a steady economic growth," said Wen Bin, chief economist of Minsheng Bank.

Loans to China's emerging sectors grow amid increased liquidity in banking system

Zoo Berlin's newest residents, a pair of panda sisters born in late August, made their long-awaited debut to the press on Tuesday, and will meet the public starting from Wednesday.

The newborn cubs spent their first few weeks behind the scenes. Starting Wednesday, however, visitors will have the chance to watch them grow.

Andreas Knieriem, director of Zoo Berlin, said only the panda cubs will be visible to the public, while their mother Meng Meng will remain behind the scenes. The cubs will be housed in an especially designed glass enclosure with an advanced air filtration system to keep them safe from external elements. One cub will be on display at a time, for an hour each day, from 13:30 to 14:30 local time at the zoo's "Panda Garden," while the other stays with their mother.

"We have finally reached an important day when we can show the panda cubs to the public. First, they will come out for just one hour each day. As time goes on, we may extend the time based on their conditions. These two little ones, weighing only 2.5 kilograms each, are a big deal for panda fans around the globe. Even though they are still tiny, they are already starting to show their panda characteristics," said Knieriem.

The new twin cubs were born after an artificial insemination procedure on March 26, following intensive observation and careful preparation by an international team of experts. The twins, weighing just 150 grams each at birth, have grown to 2.5 kilograms at 55 days old, 15 times their birth weight.

Their names are yet to be decided, as it is a tradition to name the panda cubs after their first 100 days of life.

"The panda twins and Meng Meng are currently in very good condition. We are delighted that there is always a panda cub by Meng Meng's side to get care, whether being breastfed or sleeping. The cubs will take turns to meet the public. From birth until now, the twins have been growing well," said Franziska Sutter, a veterinarian of Zoo Berlin.

Meng Meng and the twin's father Jiao Qing arrived in Berlin in June 2017. In August 2019, she gave birth to the first-ever twin panda cubs in Germany, Meng Xiang and Meng Yuan.

Baby panda twins greet first visitors in Berlin