Chongqing increases social financing

Social financing increased by 268 billion yuan ($42.4 billion) in the first three quarters of 2015, liangjiang.gov.cn reported.

Banking debt increased by 237.1 billion yuan, up 41.9 percent, and became a main driving force for social finance. Direct finance increased 62.3 billion yuan, 21.4 billion less than before.

Sectors related to people’s livelihood grew steadily. By the end of September, the transport and storage sectors increased 14.1 percent.

Housing financing increased dramatically. By the end of September, the overall debt for real estate is 729.2 billion yuan, 23.1 percent up.Debts for indemnificatory housing increased 33.5 percent.

Debts steadily increased for small and micro enterprises related to agriculture. By the end of September, their total debt balance totaled 331.3 billion yuan, up 9.49 percent.

From the first three quarters, non-financial enterprises had a weighted average interest rate of 5.14 percent, 0.14 percent lower than the same time last year. This is believed to alleviate their financing problems.