Central Bank: As of the end of July, financial companies such as car finance companies issued 21.5 billion yuan worth of financial bonds.

On September 17th, Yang Hong, head of the Credit Market Department of the People's Bank of China, stated at a press conference that the People's Bank of China actively supports qualified financial institutions in issuing financial bonds and credit asset-backed securities to broaden sources of funds and improve the supply capacity of consumer credit. This promotes the securitization of retail loan assets such as automobiles, consumer loans, and credit cards to increase the volume and coverage, revitalize existing credit, and reduce financing costs. As of the end of July, automobile financing companies and others have issued financial bonds totaling 21.5 billion yuan, and credit asset-backed securities totaling 48.4 billion yuan. In the first half of this year, nearly 100 projects in the fields of technology innovation and technological transformation, such as accommodation and catering, cultural and sports education, and tourism, were supported through re-lending with about 11.9 billion yuan in loan contracts signed.