Financial intermediation 2021

The national general public budget revenue reached 20,253.9 billion yuan in 2021, up by 10.7 percent over that of the previous year, of which tax revenue amounted to 17,273.1 billion yuan, up by 11.9 percent. The national general public budget expenditure reached 24,632.2 billion yuan, up by 0.3 percent over that of the previous year. The newly added tax and fee cuts in 2021 was around 1.1 trillion yuan.

Note: Data for general public budget revenue from 2017 to 2020 as shown in the figure were final accounts and that of 2021 was the executive accounts.

By the end of 2021, money supply of broad sense  (M2) was 238.3 trillion yuan, an increase of 9.0 percent over that by the end of the previous year. Money supply of narrow sense (M1) was 64.7 trillion yuan, up by 3.5 percent. Cash in circulation (M0) was 9.1 trillion yuan, up by 7.7 percent.

In 2021, the aggregate financing to the real economy (AFRE) (flow) reached 31.4 trillion yuan, or 3.4 trillion yuan less than that in 2020 on a comparable basis. The AFRE (stock) totaled 314.1 trillion yuan at the end of 2021, up by 10.3 percent over that at the end of 2020 on a comparable basis. Specifically, loans granted to the real economy in Renminbi stood at 191.5 trillion yuan, up by 11.6 percent. Savings deposit in Renminbi and foreign currencies in all items of financial institutions totaled 238.6 trillion yuan at the end of 2021, an increase of 20.2 trillion yuan compared with that at the beginning of the year. Of this total, the savings deposit in Renminbi stood at 232.3 trillion yuan, an increase of 19.7 trillion yuan. Loans in Renminbi and foreign currencies in all items of financial institutions reached 198.5 trillion yuan, an increase of 20.1 trillion yuan. Of this total, loans in Renminbi were 192.7 trillion yuan, an increase of 19.9 trillion yuan. Inclusive finance loans in Renminbi reached 26.5 trillion yuan, an increase of 5.0 trillion yuan.

Loans in Renminbi from rural financial institutions (rural credit cooperatives, rural cooperation banks and rural commercial banks) totaled 24,249.6 billion yuan by the end of 2021, an increase of 2,660.7 billion yuan as compared with that at the beginning of the year. Loans in Renminbi for consumption use from all financial institutions totaled 54,884.9 billion yuan, an increase of 5,318.1 billion yuan. Of the total, short-term personal loans totaled 9,355.8 billion yuan, an increase of 608.0 billion yuan, and medium- and long-term personal loans reached 45,529.2 billion yuan, an increase of 4,710.1 billion yuan.

Funds raised through A-shares issued on Shanghai and Shenzhen Stock Exchanges amounted to 1,674.3 billion yuan in 2021, an increase of 132.6 billion yuan from the previous year. 481 A-shares were newly issued on Shanghai and Shenzhen Stock Exchanges, raising 535.1 billion yuan worth of capital altogether, up by 60.9 billion yuan over that of the previous year. Of the total, 162 shares were from the science and technology innovation board, raising 202.9 billion yuan; refinancing of A-shares on Shanghai and Shenzhen Stock Exchanges (including public newly issued, targeted placement, right issued, preferred stock and exchanged convertible bonds) raised 1,139.1 billion yuan, an increase of 71.7 billion yuan over that of the previous year. 11 shares were publicly issued on Beijing Stock Exchanges, raising 2.1 billion yuan. Various types of market entities financed 8,655.3 billion yuan through issuing bonds (including corporate bonds, convertible bonds, exchangeable bonds, financial bonds issued by policy banks, local government bonds and asset-backed securities) on Shanghai and Shenzhen Stock Exchanges, up by 177.6 billion yuan over that of the previous year. There were 6,932 companies listed on National Equities Exchange and Quotations and funds raised by listed companies reached 26.0 billion yuan in 2021.

In 2021, the issuance of corporate credit bonds reached 14.7 trillion yuan, an increase of 0.5 trillion yuan over that of the previous year.

The premium of primary insurance received by the insurance companies totaled 4,490.0 billion yuan in 2021, up by 4.0 percent over that of the previous year on a comparable basis. Of this total, life insurance premium of primary insurance amounted to 2,357.2 billion yuan, health and casualty insurance premium of primary insurance 965.7 billion yuan, and property insurance premium of primary insurance 1,167.1 billion yuan. Insurance companies paid an indemnity worth of 1,560.9 billion yuan, of which life insurance indemnity was 354.0 billion yuan, health and casualty insurance indemnity 438.1 billion yuan, and property insurance indemnity 768.7 billion yuan.