China's New Yuan Loans Reach RMB 10.72 Trillion in First Half of 2026
China's new yuan loans totaled RMB 10.72 trillion in the first half of 2026, with corporate and institution loan balances rising 8.2% year-on-year to RMB 197.47 trillion, while real estate loan balances fell 4.9% to RMB 50.74 trillion, according to the central bank's Q2 report.
The allocation of RMB 10.72 trillion in new yuan loans in the first half of the year is now clear. The People's Bank of China released its Q2 2026 financial institution loan allocation statistical report on July 28, showing steady growth in corporate loans, continued expansion of inclusive small and micro loans, a slowdown in real estate lending, stable credit support for technology firms, and a modest year-on-year increase in household business loans.
As of the end of Q2 2026, domestic and foreign currency corporate loans stood at RMB 197.47 trillion, up 8.2% year-on-year, 3.1 percentage points faster than the overall loan growth rate, with an increase of RMB 11.26 trillion in the first half. By purpose, fixed asset loans were RMB 79.27 trillion, up 3.2% year-on-year, with an increase of RMB 2 trillion in the first half. Business loans reached RMB 83.24 trillion, up 10.8% year-on-year, with an increase of RMB 7.12 trillion in the first half.
In real estate-related lending, RMB real estate loan balances at end-June totaled RMB 50.74 trillion, down 4.9% year-on-year, with a decrease of RMB 1.23 trillion in the first half. Among these, real estate development loan balances at end-Q2 2026 were RMB 12.65 trillion, down 8.5% year-on-year, with a reduction of RMB 540.2 billion in the first half. Individual housing loan balances were RMB 36.29 trillion, down 3.8% year-on-year, with a reduction of RMB 716.3 billion in the first half.
Regarding loans to technology firms, as of end-Q2 2026, 305,600 technology-focused small and medium-sized enterprises had received loan support, with a loan access rate of 50.8%, up 0.6 percentage points from end-2025. Domestic and foreign currency loans to such enterprises totaled RMB 4.15 trillion, up 20.1% year-on-year, 15.0 percentage points faster than overall loan growth. Meanwhile, 293,400 high-tech enterprises had received loan support, with an access rate of 58.3%, up 1.0 percentage point from end-2025. Domestic and foreign currency loans to high-tech enterprises were RMB 21.53 trillion, up 14.6% year-on-year, 9.5 percentage points faster than overall loan growth.
For inclusive small and micro loans, RMB inclusive small and micro loan balances at end-Q2 stood at RMB 38.52 trillion, up 8.3% year-on-year, 3.1 percentage points faster than overall loan growth, with an increase of RMB 1.95 trillion in the first half. Household business loans for farmers with credit lines under RMB 5 million totaled RMB 10.21 trillion, with an increase of RMB 399.8 billion in the first half. Student loan balances were RMB 350.9 billion, up 31.1% year-on-year.
In household lending, domestic and foreign currency household loan balances at end-Q2 2026 were RMB 82.91 trillion, down 1.3% year-on-year, with a decrease of RMB 367.4 billion in the first half. Among these, business loan balances were RMB 25.79 trillion, up 2.8% year-on-year, with an increase of RMB 688.9 billion in the first half. Consumer loans excluding individual housing loans totaled RMB 20.83 trillion, down 1.7% year-on-year, with a decrease of RMB 340 billion in the first half.