BEIJING, February 12 (Reporter Wu Qiuyu) According to the report on the implementation of China's monetary policy in the fourth quarter of 2021 released by the People's Bank of China: In 2021, China's monetary policy reflected the requirements of flexibility, precision, rationality and moderation. Forward-looking, stability, pertinence, effectiveness and autonomy were further improved. Major financial indicators continued to maintain strong growth on the basis of the high base in 2020, and financial support to the real economy was stable.
In 2021, the new RMB loans reached 19.95 trillion yuan, an increase of 315 billion yuan over the same period last year. At the end of the year, the growth rate of inclusive small and micro loans and the balance of medium and long term loans in manufacturing reached 27.3% and 31.8% respectively. By the end of 2021, M2 and aggregate financing increased by 9.0% and 10.3% year-on-year respectively, and the macro leverage ratio was 272.5%, down 7.7 percentage points from the end of the previous year. The weighted average interest rate on corporate loans for the year was 4.61 percent, 0.1 percentage point lower than in 2020 and 0.69 percentage point lower than in 2019. The RMB exchange rate fluctuated in both directions and remained basically stable at an appropriate and balanced level. By the end of 2021, the central parity rate of the RMB against the US dollar was 6.3757 yuan, an appreciation of 2.3% from the end of the previous year.
In the next stage, we need to ensure that our prudent monetary policy is flexible and appropriate, step up cross-cycle adjustment, and make good use of both the aggregate and structural functions of monetary policy tools. We need to use monetary policy fully, with precision, and at the front of the line. We need to avoid indiscriminate use of monetary policy and meet the reasonable and effective financing needs of the real economy, and increase financial support for key areas and weak links. Achieve a good combination of stable total and excellent structure.