BEIJING, Oct. 20 (Xinhua) -- The growth of China's yuan-denominated loans expanded by 1.58 trillion yuan (about 220.08 billion U.S. dollars) year on year in the first three quarters (Q3), an official said on Friday.

 

China's yuan-denominated loans rose by 19.75 trillion yuan in the first nine months of 2023, said an official with the National Financial Regulatory Administration at a press conference.

 

By the end of September, the loans that supported the high-end manufacturing sector expanded by 22.5 percent year on year, while those to core industries of the digital economy rose 22.8 percent year on year.

 

The administration will continue to deepen the supply-side structural reform in the financial sector and improve financial services to the real economy to help the Chinese economy gain growth momentum, said the official.