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East China"s Jiangsu province reported a record high amount of loans in the first quarter of the year with a year-on-year increase of 1.56 trillion yuan in Chinese yuan and foreign currencies, ranking first in the country, the Nanjing Branch of the People"s Bank of China said on Thursday.

In the first quarter, Jiangsu recorded an increase in financing scale of 2.1 trillion yuan, an increase of 425.4 billion yuan year-on-year, ranking first in the country, achieving a good start in the successful implementation of credit extension and providing strong financial support for promoting the overall improvement of the economy.

Jiangsu has further optimized the credit allocation structure by supporting key areas and weak links of the real economy, and maintaining rapid growth in manufacturing and infrastructure loans.

At the end of March, Jiangsu recorded a year-on-year increase of 23.3% in the balance of manufacturing loans, which was 7.6 percentage points higher than the growth rate of various loans.

Jiangsu recorded a year-on-year increase of 19.4% in the balance of medium and long-term loans invested in the infrastructure sector, which is 3.7 percentage points higher than the growth rate of various loans.

The financial sector in Jiangsu has given full play to the guiding role of technological innovation refinancing by creating "monetary policy tools+" products to alleviate financing difficulties for technology enterprises, and assisting in key core technology research and independent innovation.

As of the end of the first quarter, Jiangsu provided various financial products and supported over 19600 technology-based small and medium-sized enterprises to obtain financing of 79.5 billion yuan.

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