August 14 domestic news, with 🧧🧧🧧
🌹【August 14 Morning News Highlights】
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1. The central bank released data showing that at the end of July, the balance of broad money (M2) was 329.94 trillion yuan, an increase of 8.8% year-on-year. In the first seven months, RMB loans increased by 12.87 trillion yuan, with household loans increasing by 680.7 billion yuan. Among these, short-term loans decreased by 383 billion yuan, while medium and long-term loans increased by 1.06 trillion yuan. From January to July, the increment of social financing scale was 23.99 trillion yuan, which is 5.12 trillion yuan more than the same period last year.
2. Regarding the personal consumption loan interest subsidy policy and the service industry operating entity loan interest subsidy policy, several experts stated that these two loan subsidy policies will further work in coordination from both supply and demand sides to boost consumption. Some experts indicated that the subsidy policy supports resident consumption with 'real money', expanding domestic demand. The fiscal interest subsidy adopts a 'pre-allocating before lending' method, with an annualized interest rate of 1%, which is equivalent to one-third of the current personal consumption loan interest rate level of commercial banks. After receiving the interest subsidy, high-quality customers' consumption loan interest rates will enter the 2% range.