On July 15, Xie Guangqi, Director of the Monetary Policy Department of the People's Bank of China, stated at a press conference held by the State Council Information Office that in the coming period, monetary credit will shift from extensive expansion to intensive development, and the slowdown and quality improvement of loans may become one of the new norms in macroeconomic operations. (Xinhua Finance)
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Central Bank: Slower and Higher-Quality Loan Growth May Become a New Normal in Macroeconomic Operations
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Bulk Carrier 'Luni' Sinks in the Strait of Hormuz, Breaks in Two
A video shows the bulk carrier 'Luni' (IMO number 9070711) experiencing a hull fracture near Abbas Port, ultimately breaking in two and sinking in shallow waters at the northern anchorage of the Strait of Hormuz. The 'Luni' is 32 years old, well beyond the normal service life for commercial vessels. There is currently no authoritative report on the sinking incident, but rumors suggest that it collided with another commercial ship a few days prior, causing damage that rapidly spread and led to a catastrophic accident. Additionally, the hull fracture may also be the result of a heavy torpedo attack or a rapid sinking attack, both of which involve detonating large explosive charges beneath the midsection of the hull, forcing it to rise and break apart. Although the U.S. military has been conducting intense strikes in the Abbas Port area, there have been no reports of the 'Luni' suffering any kinetic attacks. -
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Central Bank: Do Not Judge Policy Direction Based on Single Market Operation Volume
On July 15, Zou Lan, Deputy Governor of the People's Bank of China, stated at a press conference held by the State Council Information Office that the central bank will consider various factors comprehensively and arrange the types and scales of open market operations reasonably. Sometimes it will absorb liquidity, and at other times it will inject liquidity, ultimately aiming to maintain the total liquidity at an appropriate level to promote stable operation of short-term interest rates near the policy rate. The volume of a single operation serves the need for total liquidity regulation and should not be used to judge the central bank's policy direction. Compared to the central bank's operation volume, the level of short-term market interest rates is a more suitable observation indicator. (Securities Times) -
Central Bank: Social Financing Scale Reaches 462.06 Trillion Yuan by End of June 2026, Up 7.4% Year-on-Year
On July 15, the Central Bank released the financial statistics report for the first half of 2026. Preliminary statistics show that by the end of June 2026, the social financing scale reached 462.06 trillion yuan, a year-on-year increase of 7.4%. Among this, the balance of RMB loans issued to the real economy was 279.16 trillion yuan, up 5.3% year-on-year; the balance of foreign currency loans issued to the real economy, converted to RMB, was 1.18 trillion yuan, down 2.9% year-on-year; the balance of entrusted loans was 11.24 trillion yuan, up 0.5% year-on-year; the balance of trust loans was 4.62 trillion yuan, up 4% year-on-year; the balance of undiscounted bank acceptance bills was 2.02 trillion yuan, down 2.8% year-on-year; the balance of corporate bonds was 36.08 trillion yuan, up 8.9% year-on-year; the balance of government bonds was 101.36 trillion yuan, up 14.2% year-on-year; and the balance of domestic stocks held by non-financial enterprises was 12.49 trillion yuan, up 5% year-on-year. -
China's June M2 Money Supply Grows 8% Year-on-Year, Below Expectations
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U.S. War Costs with Iran May Reach $100 Billion
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