On July 14, the People's Bank of China released the credit "report card" for the first half of this year. In the first half of this year, RMB loans increased by 12.92 trillion yuan; At the end of June, the balance of RMB loans was 268.56 trillion yuan, a year-on-year increase of 7.1%. While the financial aggregate is growing reasonably, the credit structure is also continuously optimizing. This structural evolution is not only a reflection of economic structural changes, but also plays an active role in promoting economic transformation. If we draw a heat map of the flow of credit funds, the enterprise sector is undoubtedly the hottest area. In the first half of the year, loans to enterprises (institutions) increased by 11.57 trillion yuan, accounting for 89.5% of all new loans and an increase of 6.6 percentage points compared to the same period last year. Among them, 7.17 trillion yuan is medium - and long-term loans, accounting for over 60%, providing stable and strong support for long-term investment and production and operation of enterprises. Behind this high proportion is the confidence of enterprises in the economic outlook and their willingness to actively expand. Compared to short-term loans for enterprises, medium - and long-term loans are mostly invested in equipment procurement and engineering construction, reflecting that enterprises are accumulating energy for medium - and long-term production activities. From the perspective of residents, the credit structure also has outstanding highlights. In the first half of the year, household loans increased by 1.17 trillion yuan. Among them, 923.9 billion yuan went to operating loans, accounting for nearly 80%, indicating that financial institutions actively support the production and operation activities of individual businesses and small and micro enterprise owners. Individual businesses and small and micro enterprises are the "capillaries" of economic operation, the "reservoirs" of social employment, and the "spring water" that activates the market economy. Financial institutions' continuous support for them will further stimulate market vitality, promote employment, stabilize people's livelihoods, and drive innovation. On this heat map of capital flow, the direction of industry investment is also clear and distinguishable. In the first half of the year, newly added loans were mainly invested in key areas such as manufacturing and infrastructure. At the end of June, the balance of medium and long-term loans in the manufacturing industry increased by 8.7% year-on-year, with an increase of 920.7 billion yuan in the first half of the year; The balance of medium and long-term loans in the infrastructure industry increased by 7.4% year-on-year, with an increase of 2.18 trillion yuan in the first half of the year. As the foundation of the real economy, obtaining credit support for the manufacturing industry helps to promote industrial upgrading, enhance innovation capabilities, and international competitiveness; The construction of infrastructure is closely related to the national economy and people's livelihood, and is of great significance in driving economic growth and improving the investment environment. At the same time, the five major financial articles are of high quality, demonstrating the characteristics of "total volume growth and expanded coverage". In recent years, new driving forces for economic growth have accelerated, and the demand for financing in areas such as technological innovation and green development has continued to rise. The central bank guides financial institutions to increase their credit investment in related fields through various means such as structural monetary policy incentives. At the end of May, the loan balance of the "Five Great Articles" in finance was 10.33 trillion yuan, a year-on-year increase of 14%. Among them, the balance of technology loans was 43.3 trillion yuan, a year-on-year increase of 12%. At the end of May, green, inclusive, elderly care, and digital loans increased by 27.4%, 11.2%, 38%, and 9.5% year-on-year, respectively. The above loan growth rates are all higher than the growth rates of various loans during the same period, providing strong support for the transformation and high-quality development of the real economy. These sets of numbers indicate that the financial support for the real economy is solid and strong. Since the beginning of this year, the central bank has actively implemented a moderately loose monetary policy. While maintaining strong support for routine operations, it has also introduced a new package of support measures, which have effectively stimulated financial institutions to fully meet the effective financing needs of the real economy. (New Society)