Financial intermediation 2022

The national general public budget revenue reached 20,370.3 billion yuan in 2022, up by 0.6 percent over that of the previous year, of which tax revenue amounted to 16,661.4 billion yuan, down by 3.5 percent.

The national general public budget expenditure reached 26,060.9 billion yuan, up by 6.1 percent over that of the previous year. The newly added tax refunds, as well as tax and fee cuts and deferrals exceeded 4.2 trillion yuan in 2022.

Specifically, the value-added tax credits refunded to taxpayers' accounts reached 2.46 trillion yuan, new tax and fee cuts exceeded 1 trillion yuan and tax and fee deferrals exceeded 750.0 billion yuan.

Note: Data for general public budget revenue from 2018 to 2021 as shown in the figure were final accounts and that of 2022 was the executive accounts.

By the end of 2022, money supply of broad sense (M2) was 266.4 trillion yuan, an increase of 11.8 percent over that by the end of the previous year. Money supply of narrow sense (M1) was 67.2 trillion yuan, up by 3.7 percent. Cash in circulation (M0) was 10.5 trillion yuan, up by 15.3 percent.

In 2022, the aggregate financing to the real economy (AFRE) (flow)  reached 32.0 trillion yuan, or 0.7 trillion yuan more than that in 2021 on a comparable basis.

The AFRE (stock) totaled 344.2 trillion yuan at the end of 2022, up by 9.6 percent over that at the end of 2021 on a comparable basis. Specifically, loans granted to the real economy in Renminbi stood at 212.4 trillion yuan, up by 10.9 percent.

Savings deposit in Renminbi and foreign currencies in all items of financial institutions totaled 264.4 trillion yuan at the end of 2022, an increase of 25.9 trillion yuan compared with that at the beginning of the year.

Of this total, the savings deposit in Renminbi stood at 258.5 trillion yuan, an increase of 26.3 trillion yuan.

Loans in Renminbi and foreign currencies in all items of financial institutions reached 219.1 trillion yuan, an increase of 20.6 trillion yuan.

Of this total, loans in Renminbi were 214.0 trillion yuan, an increase of 21.3 trillion yuan. Inclusive finance loans in Renminbi reached 32.1 trillion yuan, an increase of 5.6 trillion yuan.

Loans in Renminbi from rural financial institutions (rural credit cooperatives, rural cooperation banks and rural commercial banks) totaled 26,719.5 billion yuan by the end of 2022, an increase of 2,470.2 billion yuan as compared with that at the beginning of the year.

Loans in Renminbi for consumption use from all financial institutions totaled 56,036.1 billion yuan, an increase of 1,152.2 billion yuan. Of the total, househlod short-term consumption loans totaled 9,347.3 billion yuan, a decrease of 9.0 billion yuan, and household medium- and long-term consumption loans reached 46,688.8 billion yuan, an increase of 1,161.3 billion yuan.

Funds raised through A-shares issued on Shanghai and Shenzhen Stock Exchanges amounted to 1,510.9 billion yuan in 2022, a decrease of 163.4 billion yuan from the previous year.

A total of 341 new A-shares issued on Shanghai and Shenzhen Stock Exchanges raised 570.4 billion yuan worth of capital altogether, up by 35.3 billion yuan over that of the previous year.

Of the total, 123 shares from the science and technology innovation board raisd 252.0 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 940.5 billion yuan, a decrease of 198.6 billion yuan over that of the previous year.

83 shares were publicly issued on Beijing Stock Exchanges, raising 16.4 billion yuan. Various types of market entities financed 6,449.4 billion yuan through issuing bonds (including corporate bonds, asset-backed securities, national and local government bonds and policy bank bonds) on Shanghai, Shenzhen and Beijing Stock Exchanges.

Specifically, 13 infrastructure Real Estate Investment Trust Fund (REITs) projects were issued and listed on Shanghai Stock Exchange and Shenzhen Stock Exchange, raising 41.9 billion yuan. There were 6,580 companies listed on National Equities Exchange and Quotations and funds raised by listed companies reached 23.2 billion yuan in 2022.

In 2022, the issuance of corporate credit bonds reached 13.7 trillion yuan, a decrease of 1.0 trillion yuan over that of the previous year.

The premium of primary insurance received by the insurance companies totaled 4,695.7 billion yuan in 2022, up by 4.6 percent over that of the previous year on a comparable basis.

Of this total, life insurance premium of primary insurance amounted to 2,451.9 billion yuan, health and casualty insurance premium of primary insurance 972.6 billion yuan, and property insurance premium of primary insurance 1,271.2 billion yuan.

Insurance companies paid an indemnity worth of 1,548.5 billion yuan, of which life insurance indemnity was 379.1 billion yuan, health and casualty insurance indemnity 393.7 billion yuan, and property insurance indemnity 775.7 billion yuan.