On October 30, a finance frontline report said that China Construction Bank held its 2026 third-quarter results briefing.
Executive Vice President and Board Secretary Ji Zhihong noted that China's social financing structure is undergoing profound changes, with the share of direct financing continuously rising, while the share of indirect financing dominated by bank loans is on a trend of decline, making "slower growth with higher quality" a new normal for the macroeconomy. At the same time, the momentum of China's economy shifting toward new drivers and its structure improving has not changed, and the proactive macro policy stance and its effects will gradually emerge, providing new opportunities and room for bank credit growth.
Ji Zhihong said that in the first three quarters, China Construction Bank Corporation (ASX: 601939) credit business showed the characteristics of "volume growth, stable pricing, and a structure moving toward new and better areas."
The first is steady growth in total loans. As of the end of September, the group's total loans reached 29.55 trillion yuan, an increase of 1.78 trillion yuan from the end of last year, broadly flat compared with the same period last year, with a year-on-year growth rate of 6.77%, higher than the average growth rate of loans across society.
The second is that the decline in loan rates has stabilized. Overall, loan pricing currently shows a trend of "the year-on-year decline narrowing significantly and quarter-on-quarter pricing stabilizing somewhat."
The third is that the credit structure is moving toward new and better areas. In response to changes in the market environment and customer demand, corporate loans have become the main support for new loans. At the end of September, the group's corporate loan balance was 17.69 trillion yuan, an increase of 1.22 trillion yuan from the end of last year, or 7.41%, and its share of all loans rose 0.56 percentage points from the end of last year, mainly due to faster growth in key areas such as technology, green development, inclusive finance, and advanced manufacturing. Personal loans totaled 9.13 trillion yuan, accounting for 30.90% of all loans, among which personal consumer loans maintained relatively good growth, helping expand consumer domestic demand.
Ji Zhihong said that next, CCB (ASX: 00939) will focus on the financing needs of the real economy, strive to optimize financial supply, pay more attention to differentiated pricing that matches risk and return, actively promote credit structure adjustment, increase high-quality asset investment in key areas such as the "five major financial articles," promote balanced development of volume, pricing, and risk, and enhance its long-term sustainable capacity to serve the real economy.
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