Shanghai Headquarters of the Central Bank: Shanghai's personal housing loan demand is rising, and the financing cost is stable with a slight decrease.

The Shanghai headquarters of the People's Bank of China held a press conference for the third quarter of 2025, introducing the financial situation in Shanghai in the first half of the year. At the end of June, the balance of loans denominated in both domestic and foreign currencies in Shanghai was 12.85 trillion yuan, an increase of 8.4% compared to the same period last year, which was 1.6 percentage points higher than the national average. The Shanghai headquarters of the central bank stated that in the first half of the year, the scale of social financing in Shanghai increased compared to the previous year, the total amount of credit remained stable, financing costs were stable with a slight decrease, and the credit structure continued to optimize. In terms of borrowing entities, household loans increased by 13.7% year on year, an increase of 8.1 percentage points compared to the same period last year. Among them, the demand for personal housing loans has rebounded and the growth rate has continued to rise since turning positive in October last year. Non-financial corporate loans increased by 5.5% year on year.