In the first half of this year, the banking and insurance sectors in Guangdong Province operated on a stable and improving trajectory, with multiple financial indicators ranking first nationally.
As of the end of June this year, the total assets of Guangdong's banking industry reached 43.99 trillion yuan, a year-on-year increase of 6.77%, while the total assets of the insurance industry stood at 2.93 trillion yuan, up 9.67% year-on-year. This was disclosed at a press briefing on the Guangdong banking and insurance industry's performance for the first half of 2026, held on July 30.
"Relying on the fertile economic soil of Guangdong, the province's banking and insurance sectors have contributed to the region's efforts to lead, set an example, and shoulder major responsibilities. In the first half of the year, key development indicators such as total banking assets, total liabilities, deposit and loan balances, as well as total insurance assets, premium income, and underwriting profits, all ranked first in the country," said Cao Guangqun, Deputy Director of the Guangdong Financial Regulatory Bureau, at the meeting.
Alongside scale expansion, strict supervision has continued to strengthen. According to Xu Meiru, Director of the Large Bank Supervision Division and Level 2 Inspector at the Guangdong Financial Regulatory Bureau, the net interest margin of the banking sector within the jurisdiction has stabilized and rebounded in the first half of this year. Commission rebate ratios have returned to a reasonable range, cooperation with intermediaries has become more standardized, and commission expenses for housing mortgages and auto finance have decreased by 89% year-on-year. Operational quality and efficiency have steadily improved, and the overall industry behavior has become more rational.
Manufacturing Loan Growth Rate Hits a Two-Year High
Overall, in the first half of this year, Guangdong's banking and insurance sectors showed steady progress, with a strengthened foundational resilience. Data shows that by the end of June, the total assets of Guangdong's banking industry were 43.99 trillion yuan, and total liabilities were 42.7 trillion yuan, up 6.77% and 6.75% year-on-year, respectively. Among these, the outstanding loan balance was 30.7 trillion yuan, and the deposit balance was 33.45 trillion yuan, increasing by 5.05% and 4.04% year-on-year, respectively. The total assets of Guangdong's insurance industry were 2.93 trillion yuan, up 9.67% year-on-year. From January to June, original insurance premium income reached 477.5 billion yuan, up 3.44% year-on-year, and claim payments totaled 163.9 billion yuan, up 3.08% year-on-year. The amount of risk coverage provided was 4,236 trillion yuan, a 9.83% year-on-year increase.
In terms of capital allocation, Guangdong has intensified efforts in key areas, with investment structures continuously improving. By the end of June, the province's manufacturing loan balance was 5.31 trillion yuan, a year-on-year increase of 13.45%, marking the highest growth rate in the past two years. The half-year increase was 560.4 billion yuan, a year-on-year rise of 209.4 billion yuan, showcasing the strong momentum of the manufacturing powerhouse. Cao Guangqun noted that in the banking sector, over 44.1% of the new manufacturing loans since the beginning of the year were directed to high-tech manufacturing. In the insurance sector, liability insurance and credit insurance premiums related to industrial upgrading and foreign trade grew by 10.45% and 8.51% year-on-year, respectively. The insured amount under export credit insurance within the jurisdiction reached 636.6 billion yuan, up 7.3% year-on-year.
Several institutions also shared progress on building the "big article" of technology finance at the meeting. Ke Jianxun, Party Secretary and President of the Guangdong Branch of the Bank of China, stated that the bank has established 37 technology-focused outlets in recent years. By the end of June, the Bank of China's Guangdong branch had a technology loan balance exceeding 590 billion yuan, with a year-on-year growth of over 20%. The number of technology enterprise borrowers exceeded 20,000, with a coverage rate of over 30%.
The Guangdong Financial Regulatory Bureau has also implemented a series of differentiated institutional arrangements for technology finance. Cao Guangqun said that the bureau will expedite the introduction of a version 2.0 policy for technology banks, guiding them to strengthen their focus on specialized scenario-based product systems, differentiated institutional mechanisms, specialized integrated operations management, professional digital intelligence core capabilities, and dedicated integrated service ecosystems. The goal is to cultivate a group of benchmark technology banks and establish a "demonstration window" for Guangdong's technology financial services.
Personal Pension Savings Rank First Nationwide
In the field of pension finance, Guangdong continues to lead the country. Data shows that by the end of June, the number of personal pension accounts opened in the province exceeded 29 million, with cumulative savings surpassing 30 billion yuan, ranking first nationally. Within the jurisdiction, premium income from commercial pension annuity insurance reached 24.7 billion yuan, a year-on-year increase of over 80%.
Cao Guangqun pointed out that pension savings require diversified funds and must be deeply integrated into grassroots governance. In terms of building pension scenarios, the bureau has jointly issued several measures to support the Yuexiu District of Guangzhou in creating a model for pension finance. Pilot projects such as "AI Pension Agents," "Consumption-Based Pensions," and "Silver Economy Markets + Comprehensive Pension Finance Business Districts" are being implemented, along with support for insurance institutions to layout the pension industry.
In cross-border healthcare, the Guangdong Financial Regulatory Bureau has taken the lead in issuing guidelines to promote the high-quality development of health insurance and support the construction of a healthy Guangdong. Efforts are underway to continuously optimize the "One Table, Two Pilots" initiative, which includes the exclusive critical illness incidence table for the Greater Bay Area, cross-border medical insurance products, and exclusive critical illness insurance products. Currently, six cities, including Zhuhai and Foshan, have included some "Hong Kong-Macao Drug and Medical Device Connect" products into the coverage of municipal commercial medical insurance. Cross-border medical insurance and Greater Bay Area critical illness insurance products have cumulatively covered over 150,000 individuals.
Additionally, Guangzhou's "Sui Sui Kang" has expanded its coverage to include Hong Kong and Macau residents who work, live, or study in the Nansha District. In 2026, a total of 7,305 Hong Kong and Macau residents purchased the insurance, with cumulative payouts of 7.33 million yuan for these residents.
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