In November, Wenzhou's financial sector demonstrated robust performance, reflecting the effectiveness of a prudent monetary policy and ample market liquidity.
Total deposits surged to 219.02 billion yuan ($30.66 billion), marking a 15.55 percent year-on-year increase, while loans reached 206.85 billion yuan, growing by 14.86 percent annually.
Loans to non-financial enterprises and institutions increased by 22.07 percent, with a particularly strong growth of 28.5 percent in medium to long-term loans, indicating improved quality and efficiency in supporting the real economy.
Household finances remained steady, with a 6.85 percent year-on-year growth in loans and a substantial 19.16-percent increase in deposits. The real estate impact was evident in the loan sector, where a slight uptick of 2.81 percent in medium to long-term loans. Private lending in Wenzhou hit a yearly high in November, showcasing a comprehensive interest rate index of 16.13 percent.
Large-scale financing, which is above 5 million yuan, constituted 86.33 percent of the total flow, rising by 7.14 percentage points compared to that of November 2022. Financing purposes centered on production and business activity, aligning with the central financial need of the city.
