Listed Bank Annual Reports: Seeing China's Economy's "Progress" and "Innovation"

This text is reproduced from: Leshan Daily

■ Xinhua News Agency reporters Wu Yu and Li Yanxia

Recently, listed banks have released their 2025 performance reports in quick succession, outlining the flow and deployment of credit funds. Finance is a mirror of the economy. By looking at the “flow of money,” the development trajectory of China’s economy—steady progress while moving toward higher-quality growth driven by innovation—has become clear and distinct.

Robust lending to provide strong support for the real economy

The sustained injection of “fresh financial water” is an important guarantee for the real economy to move forward steadily. In 2025, listed banks increased the intensity of credit lending. The six major state-owned banks—Industrial, Agricultural, Bank of China, Construction, Bank of Communications, and Postal Savings—saw total new loans exceeding 9.4 trillion yuan in that year.

Abundant capital supply lays a solid foundation for development. According to annual reports, as of the end of 2025, Industrial Bank’s total new credit lending and bond investment combined reached 4.8 trillion yuan, a record high; Construction Bank’s net loan issuance increased by 7.53% year over year; Agricultural Bank’s new loans were 2.23 trillion yuan, leading its peers.

“As we guide the total picture, we place even more emphasis on optimizing the structure and timing of lending. We keep relatively fast growth in key areas such as manufacturing, strategic emerging industries, green finance, and inclusive finance. The role of major state-owned banks in serving the real economy as the main force has been effectively brought into play.” Industrial Bank President Liu Jun said the common trend in where banks’ funds are flowing today—shifting from “expanding in quantity” to “enhancing in quality,” and precisely directing capital to key areas of the real economy.

Reviewing the annual reports of listed banks, many figures confirm this trend. As of the end of 2025, Industrial Bank’s manufacturing-loan balance exceeded 5.2 trillion yuan, up nearly 20% year over year; Construction Bank’s loans to strategic emerging industries rose 23.46% year over year; Agricultural Bank’s新增县域贷款（new county-region loans） exceeded 1 trillion yuan, and its household-loan balance increased 22.4% year over year.

Behind the rising data is China’s 2025 monetary policy delivering precisely. Lower the reserve requirement ratio by 0.5 percentage points, cut policy interest rates by 0.1 percentage points, and comprehensively lower the interest rates on structural monetary policy tools by 0.25 percentage points… A series of policy measures have taken effect, guiding financial institutions to prudently deploy credit, and increasing support for major strategies, key areas, and weak links.

Clear growth in the “five big articles” areas

Which areas attract more “capital”? It can be seen in the changes in credit structure. After reviewing the annual reports, the reporter found that many banks, including Industrial, Agricultural, Bank of China, and Construction, all saw significant loan growth across the various fields under the “five big articles.”

Specifically, more and more funds are being favored by technology-based enterprises. As of the end of 2025, Industrial Bank’s technology loan balance exceeded 6 trillion yuan, up nearly 20% year over year; Construction Bank’s technology loan balance was 5.25 trillion yuan, up 18.91%; Bank of Communications’ loans to technology-oriented small and medium-sized enterprises achieved a year-over-year growth rate of 36.29%; and CITIC Bank’s coverage rate for national-level “specialized and innovative” enterprises reached 98.48%.

More and more banks are breaking through the limitations of the traditional “three statements” framework and innovating diversified credit enhancement approaches. By offering integrated service models such as “equity loans, debt lending, and guarantee insurance,” they provide financial support to enterprises across the entire chain and throughout their entire life cycle.

Pension finance is also a key focus for banks, and related businesses have maintained high-speed growth. As of the end of 2025, Industrial Bank’s various pension-management scale was 5.9 trillion yuan, up 18.5%; Construction Bank and Bank of Communications both saw year-over-year growth rates of pension-industry loans of around 50%; CITIC Bank’s pension-industry loan issuance grew by more than one time.

In addition, in the area of inclusive finance, many banks have also performed impressively. According to annual reports, as of the end of 2025, CITIC Bank’s inclusive loans to small and micro enterprises rose to 11% of the bank’s total loan balance; and the inclusive finance featured product “Puhui Loan” of Pudong Development Bank (“浦惠贷”) had a balance that grew by 192% compared with the end of the previous year.

“Through multiple channels, we concentrate resources on the key areas of the ‘five big articles.’ The related loans have grown multiple-fold, resulting in a better asset structure, a healthier balance sheet, and a more sustainable profit-return outlook.” said Gu Lingyun, vice president of CITIC Bank. Facts fully demonstrate that by moving forward steadily along this path, the foundation for development becomes even more solid, momentum becomes even stronger, and advantages become even more evident.

Deepening credit demand to improve the quality and efficiency of financial services

In the first year of the “15th Five-Year Plan’s second phase,” the trend of listed banks’ credit allocation toward “innovation and excellence” has become even clearer.

In the first two months of this year, Agricultural Bank’s loans to the real economy increased by 1.1 trillion yuan, with a larger year-over-year increase; Bank of China’s RMB loan balance grew well; Industrial Bank’s corporate loans grew faster… The many pieces of information released at performance briefings show that each bank is actively seizing the opportunities at the start of the “15th Five-Year Plan’s second phase,” deepening credit demand, and maintaining stable growth in credit lending.

“Even with annual growth target for loan increment no less than last year, on the lending timetable, we will balance appropriate early efforts with balanced and sustainable growth.” said Zhou Wanf an, vice president of Bank of Communications.

The Government Work Report lists “efforts to build a strong domestic market” as the top task for this year. Many banks have disclosed at performance briefings that they will anchor on expanding new growth space for domestic demand; leveraging their own strengths, they will continue to add investment and intensify efforts around key areas.

For example, Industrial Bank will provide more suitable financial services to support the building of a modern industrial system; Agricultural Bank will focus on key areas and projects for rural revitalization, aiming to increase net county-region lending by more than 1 trillion yuan this year and to push its household-loan balance beyond 2 trillion yuan.

At the same time, multiple banks have proposed deepening special campaigns for consumer finance. Construction Bank will focus on supporting consumption of goods such as automobiles and home appliances, as well as service consumption such as culture and tourism and health and wellness; Bank of China will continue to carry out “Ten Thousand, Hundred, and Billion” programs to benefit the people; and Agricultural Bank will expand more consumer-finance scenarios around traditional consumption such as cars and home renovation, as well as green, healthy, and other areas.

Empowering finance with technology to improve the quality and efficiency of financial services has become an “answer that must be given” for banks.

Information from performance briefings shows that Construction Bank has used AI to enable end-to-end credit approval workflows, with the number of applications growing at a double-digit rate and the average processing time falling by more than 30%; Bank of China’s intelligent marketing assistant has covered customer managers at all levels, and the intelligent Q&A assistant covers all branches; CITIC Bank is pushing to reshape core business processes with AI… Many banks are increasing technology investment to promote large-scale applications of artificial intelligence in more fields.

Experts said that finance and the real economy coexist and prosper together. Stable and abundant capital deployment, together with continuously optimized credit structure, is steadily enhancing the vitality and resilience of economic development.

(Xinhua News Agency, Beijing, April 1)