China's outstanding balance of structural monetary policy instruments at 3.9 trln yuan: central bank

BEIJING, Nov. 11 (Xinhua) -- China's outstanding balance of structural monetary policy instruments was 3.9 trillion yuan (about 550.3 billion U.S. dollars) at the end of September, data from the People's Bank of China (PBOC), the country's central bank, showed on Tuesday.

In a quarterly report, the central bank said that during the third quarter, it had efficiently implemented various structural monetary policy instruments and vigorously promoted technology finance, green finance, inclusive finance, pension finance, and digital finance.

By the end of September, technology loans, green loans, inclusive loans, pension industry loans and digital economy industry loans had increased by 11.8 percent, 22.9 percent, 11.2 percent, 58.2 percent, and 12.9 percent year on year, respectively, all exceeding the overall loan growth rate.

Experts note that the PBOC's structural monetary policy instruments are primarily aimed at incentivizing and guiding financial institutions to support key sectors and vulnerable areas in line with major national strategies and socioeconomic development.

Moving forward, the central bank affirmed that it will diligently advance technology finance, green finance, inclusive finance, pension finance, and digital finance, according to the report.