Jiangsu tops China's aggregate financing to the real economy in Q1

BEIJING - Jiangsu, Guangdong and Zhejiang were the top three regions in terms of aggregate financing to the real economy in the first quarter, the central bank said Monday.

The aggregate financing in East China's Jiangsu province stood at 1.17 trillion yuan ($174.42 billion) in the first three months, ranking first among the country's provincial-level regions, according to a table posted on the website of the People's Bank of China.

RMB loans totaling 665 billion yuan took the lion's share of the province's aggregate financing amount, followed by undiscounted bankers' acceptances and net financing of corporate bonds.

The aggregate financing figures for South China's Guangdong province and East China's Zhejiang province hit 705.2 billion yuan and 668.3 billion yuan, respectively.

China's central bank said earlier this year that it would encourage lending to the real economy by giving incentives to banks.