(Yicai Global) July 14 -- The balance of Shanghai’s inclusive micro and small business loans exceeded CNY1 trillion (USD140.3 billion) for the first time at the end of May, according to data from China’s new financial regulator.

As of May 31, the loan balance of such companies rose about CNY92.2 billion (USD12.9 billion), or 10.1 percent, from the start of the year and CNY251.4 billion, or 33.2 percent, from a year earlier, data from the Shanghai branch of the National Administration of Financial Regulation showed yesterday.

The NAFR was established in March to replace the China Banking and Insurance Regulatory Commission and take on some supervisory duties, such as the protection of financial consumers and investors, from the People’s Bank of China.

The loan balance of Shanghai’s tech firms totaled CNY850.2 billion (USD119.3 billion) at the end of the first quarter, with small and mid-sized businesses having to pay back CNY366.3 billion, NAFR data showed. As of March 31, the balance of green financing was CNY1.21 trillion, up 14 percent from the beginning of the year.

Shanghai’s weighted average interest rate reached 4.27 percent at the end of May, down 0.25 percentage point from the start of the year, the NAFR noted.

By the end of the first quarter, Shanghai had invested CNY530.3 billion to support the employment of nearly 6.4 million people. The city also vowed to increase the balance of bailout financing to more than CNY600 billion by December to steady the jobs situation of 7 million people.

Editors: Shi Yi, Futura Costaglione