On August 29, Bank of Communications held its 2024 semi-annual performance briefing. Executive Director and Vice President Yin Jiuyong noted that due to multiple factors, corporate loan growth has slowed since the second quarter, but the bank continues to strengthen its foundation for serving the real economy through measures such as enhancing project reserve quality and expansion, and optimizing regional layout.

Yin Jiuyong acknowledged that current real economy loan demand has weakened compared to the first quarter, with Bank of Communications, like most peers in the market, experiencing slower corporate loan growth from the second quarter through July. In response, the bank has shifted focus toward credit project reserves, fully promoting "project reserve quality enhancement and expansion," with key emphasis on national "Two Majors and Two News" initiatives (major strategies, major projects, new infrastructure, new urbanization), manufacturing, inclusive finance, green development, technological innovation, and rural revitalization.

In terms of progress, project reserves and overall demand remain stable for the third and fourth quarters, though the bank must address growth pressures from increasing near-term business, special bond issuances, and interbank competition.

"We will make full use of policy tools from central authorities and regulatory departments, seize policy opportunities, and explore business demand around structural monetary policy tools, small and micro enterprises, private enterprise M&A loans, and new real estate development models to achieve both quantitative and qualitative improvements," Yin emphasized.

Regarding regional deployment, the bank continues to deepen implementation of national strategies. As of the end of June, loan scale in the Yangtze River Delta region grew 6.9% compared to year-end, accounting for nearly 30% of the bank's total loans, an increase of 0.46 percentage points from year-end. Corporate loan growth in key regions including the Yangtze River Delta, Guangdong-Hong Kong-Macao Greater Bay Area, and major economic provinces significantly exceeded the bank's average level, with Shanghai showing particularly outstanding performance—its substantial corporate loan growth ranked first in the market during the first half, further highlighting Shanghai's home-field advantage.

"The regional pattern of corporate credit demand is still dominated by economically developed areas, with technology and green infrastructure as core growth drivers," Yin stated.