Distinguished investors, analysts, media friends, ladies and gentlemen, good afternoon. Welcome all of you to China Construction Bank's 2025 annual results announcement. Thank you very much for your trust, care, and support to CCB over the years. This announcement has two venues in Beijing and Hong Kong. We will connect it by video, and we will also broadcast to the shareholders and public through the online platform. Those present in Beijing include President of CCB, Mr. Zhang Yi, Mr. Li Jianjiang, Vice President. Those in Hong Kong venue include Mr. Ji Zhihong, EVP, Mr. Lei Ming, EVP, and CFO Mr. Sheng Liurong. Those present also include the non-executive directors, independent director representatives, the heads of departments of head office and Hong Kong institutions, etc . I'm VP Tang Shuo. The 2025 annual results of CCB is already made public today.
The PowerPoint is also released on our official website for your reference and reading. The announcement will begin by the speech made by President Zhang, then we will have the Q&A session. Now, Mr. Zhang, please.
Distinguished investors, analysts, media friends, good afternoon. Welcome all of you to CCB's 2025 annual results announcement. 2025 is the concluding year of our 14th Five-Year Plan, and also the 20th anniversary of CCB's IPO. In the past 20 years, we have been developing with the national development, the capital market, and we use reform to generate new growth, providing stable and long-term values for our shareholders and also the public. Here on behalf of CCB, to all the shareholders, to our clients, and to the general public, we'd like to thank you all for your support and trust.
Today, we have reviewed and approved the 2025 annual results and made public. Now I would like to report to you the financial performance, development, and the future outlook. In 2025, we stick to Mr. Xi's philosophy, and we have implemented all the principles in the central government's meetings. We have also coordinated and promoted the quality development and quantitative development of our overall development, and we have achieved a steady development. The core indicators have all recorded a new growth. In terms of asset structure, it continued to optimize. The Five Priorities, manufacturing and infrastructure loan disbursement, has also recorded more than average growth.
We have also recorded a net profit increase of 1.04% at RMB 339 billion. The operating income is also increased by 1.69% Q-o-Q. Profit before provision also increased by 1.7% Y-o-Y. All the indicators have steady growth. NIM is 1.34%. ROA, 0.79%. ROE, 10.04%. Capital adequacy ratio, 19.69%. Cost-to-income ratio, 29.44%. Net income ratio is 22.69%. They're all leading in the market. In terms of risk control, it is steady, and the NPL ratio is only 1.31%, and we continue to enhance our capacity.
The provision coverage ratio is 233.15%. Based on these quality and quantity development, our capital assets are also recording growth steadily. Our total assets increased to RMB 45.363 trillion by 12%. Gross loans to customers also increased by 7.47% to RMB 27.77 trillion. Financial investments also increased by 12.9% to RMB 12.9 trillion. The liabilities also increased to RMB 41.65 trillion by 12%. The deposits also increased by 7%. Our loans continued to support the real economy, and we're also serving the public and the society, support the economy to go smoothly.
Based on the annual results, in 2025, we have also dispatched a total dividend of RMB 106 billion. We will also have interim dividend for first half of RMB 1.858 per 10 shares. The final dividend for the whole year is RMB 2 per 10 shares, and we continue to enhance our capital capacity. Over the year, we stick to the inherent high quality development, and we have done the following things. First, we focus on core responsibilities and the primary business to empower the real economy. We have advanced the Five Priorities with scale and quality. We have the technology, digital, green and inclusive and pension finance.
Technology finance, the loans are over RMB 5 trillion, and we have underwriting of Sci-Tech innovation bonds amounted to RMB 72 billion. In terms of green finance, we issued RMB 6 trillion up by 20.54%. Green bonds, leasing investment and funds continue to boom. The MSCI industry rating maintained at a AAA level. In terms of inclusive finance, the loan customers reached RMB 3.69 million. The finance loan balance reached RMB 3.83 trillion. Agriculture-related loans balance reached RMB 3.71 trillion. In terms of pension finance, we actively expanded the application scenarios. There is a solid growth in enterprise and personal pension business. The pillar two AUM management also grow by 15%. Digital finance also accelerated mobile banking and CCB Lifestyle app.
Users reached 546 million. We developed the home living and auto living service platforms. We also provided a lot of digital economy loans to core business and digital economy. It also grew by 18.7% to RMB 891 billion. We have a multiple channel expansion of credit resources, facilitating the domestic and international dual circulation. We actively supported efforts to boost consumption, stabilize the market and expand investment. The personal consumption loans grew 29.41%. Balance is at RMB 6.72 trillion in terms of loan balance to private economy up by 12%. The loan balance to manufacturing sector reached RMB 3.52 trillion. Digital supply chain financing provided RMB 1.32 trillion.
We also support balanced regional development, such as Beijing, Tianjin, Hebei, Yangtze River Delta, Greater Bay Area, and Chengdu-Chongqing area. The loans and deposits also outpace the bank-wide average. We also continue to strengthen financial service for key areas. We continue to coordinate the cross-border loans and investment, and also the loan balance to the project, cross-border M&A and also the loan balance to Belt and Road partner countries also reached RMB 55 billion. We also uphold people-centric finance and enhanced group-wide integrated service. We try to accelerate the transition from a product-driven approach to client-centric mindset. We advanced commercial banking, investment banking integration. Underwriting of non-financial corporate bonds increased by 85%. M&A loan balance increased by 24%. New equity investment scale also is 20% higher than over the period.
We also advanced corporate and retail banking integration. We deepen the ecosystem-based operation of payroll disbursement and the Social Security card service. Continue to upgrade and promote the [Xin Xiao tong] payroll service, advanced development of Social Security card ecosystem so that we can connect the corporate and retail banking. We also advanced domestic and foreign currency operation integration. The international business loan balance is RMB 1.5 trillion. Cross-border RMB settlement reached RMB 6.5 trillion. We advanced group-wide integration. The overseas institutions recorded net profit of RMB 12 billion. The integrated operations subsidiaries recorded net profit of RMB 9.45 billion, up by 31% and 7% Y-o-Y respectively. We also explored ecosystem plus industry and supply chain plus industry and business clusters service model.
We developed 12 enterprise-level models across ecosystems, supported by integrated service throughout the customer journey. We continue to enhance our customer base. We also have 785 customers. We also recorded double-digit growth. For the personal CTS customers exceeded RMB 100 billion. Assets under custody is RMB 27 trillion. Thirdly, we adopted a systematic approach under strengthened risk and compliance management. With solid foundation for comprehensive risk management, improved Three Lines of Defense risk governance framework. We optimized the integrated financing management systems and enhanced comprehensive risk panorama. We also strengthened the penetrative risk management across overseas institutions and the subsidiaries. We also tried to accelerate the upgrading of risk control systems.
We also try to look at the management of emerging risks, including model risks, data risks, fraud risks and new product risks. We also try to optimize risk related processes. The NPL ratio is only 1.31%. It decreased by 0.03 percentage points. The SML ratio also stands at 1.77%, also decreased on a Y-o-Y basis from last year. We also strengthened development foundations and continued to upgrade operation and management systems. We promoted the development of operation data and technology. We promoted AI's application in business system. We also emphasize various risks in terms of model risks, data and fraud risks.
We also continue to enhance internal control, strengthen employee conduct management, case prevention control, anti-money laundering, etc. We further enhance the consumer rights protection framework, so the foundation is more solid. Fourthly, we strengthen development foundation and continued to upgrade the operation and management system, promote the integrated development of operation data and technology, and we also enhance the foundation. We have a transformation from a centralized core business system to distributed model. The cloud computing scale increased by 12%. We also have the AI plus technology and framework.
Large model technology has been applied across 398 application scenarios within the group. We enhance enterprise level large-scale operations in many key areas such as tech development, building a more comprehensive cloud system, including an omni-channel optimization mechanism to provide customers with one-stop services, which enhance the efficiency of key operations to enrich an online processing scenario and enhance the automated capabilities of our centralized operations to better serve corporations and the public. In the future, we're gonna continue to work in line with the 15th Five-Year Plan to find our proper positioning to continue to promote a further upgrade and development, continuing to support a new qualitative and high quality development.
In terms of business layout, financing method, customer structure, room for development, and service model, these five aspects, we're gonna consolidate and expand traditional strengths and tap into the potential for high-quality development. In 2026, we're gonna do four major things. We will continue to serve the national strategy. We're gonna do the Five Priorities of finance business. We are going to anchor ourselves as a leading financial institution of China to continue to enhance our professionalism and comprehensiveness and the integration of our business to strengthen our sustainable business model. To continue to support domestic demand, to follow up on consumption stimulus policies, to offer consumer financial services, to have a comprehensive solution covering credit payments, merchant services, and value-added offerings. To continue to unleash the growth potential of consumer financing, to seize opportunities to further expand effective investment.
To fully expand financial services for infrastructure projects across land, sea, air, digital roads, network, bridges and waterways. To continue to strengthen our unique advantages here and to accelerate key project progress. We focus on key areas such as ultra-long-term special government bonds, local government special bonds, and new policy-based financial instruments to support the binary star and the two focuses. To support regional banking coordination, upgrade and enhancement, to support the Hainan Free Trade Port and offshore renminbi market development. We're going to enhance county level financial services based and help urban rural development and regional coordination, and to enhance our financial services based on local conditions. We are gonna continue and commit to advancing high quality development. Customer operation is all about maintaining a strong focus on enhancing service capabilities.
Our asset business focuses both on scale, pricing and risk to maintain a balance among the three. Our liability business, we are gonna maintain a dynamic alignment across scale, pricing and quantity. We are gonna consolidate our base and our intermediary business is about maintaining category-specific policies across intelligence, technology, equity and debt financing to enhance our value creation capabilities. Cost management, we will maintain an alignment between cost reduction and efficiency enhancement to dynamically support our growth of our business and to maintain high efficiency. We're gonna continue to commit to upgrading our integrated service model. Depending on our customer needs as they change, we're gonna continue to invest in investment in commercial bank integration, domestic and foreign currency integration, group by integration, and corporate and retail banking integration across institutions, across sectors, and across markets.
We will upgrade and refine the service models across ecosystems, industrial and supply chains, and industrial and business clusters. We're gonna upgrade and deepen integration, deeply deliver personalized services tailored to individual customer needs across the entire lifecycle. We are gonna optimize our services, achieving a tailor-made service depending on the customer you are. We further deepen integration under the binary stars model. We will have a more diversified product matrix and accompanying products to rejuvenate the financial system. We're gonna commit to safeguarding the bottom line of risk control.
We are gonna remember the key of risk management and continue to advance a comprehensive, proactive, intelligent, and agile risk control system to improve the working mechanism of the Three Lines of Defense to further strengthen the joint risk management between bank and subsidiaries, and enhance the look-through management of overseas institutions. We are gonna further adopt a more dynamic loan control mechanism. We're going to roll out inclusive loans and continue to assess regional risks. We are going to hold fast to the bottom line of risk control in order to assess risk in advance and increase our resolution capabilities. We're gonna enhance enterprise-wide anti-fraud capabilities as well. We're gonna continue to build a better consumer protection system to promote the deep integration across the entire business process.
In 2026, we're gonna continue with the political and fundamental nature of our business. We're gonna continue to keep our eye on risk on the business development to continue to serve the development of our nation, to prevent financial risk and enhance our international competitiveness. We will have higher commitment, more pragmatic measures to play the role that we should play in the development of our nation's history, to show our value, to work with all partners, to open up a new chapter of high-quality development. Thank you, everyone.
Thank you. Thank you, President Zhang. Now we go into Q&A. This event will have questions alternately from both the Beijing and Hong Kong venues, so that everybody gets a chance to ask question. We hope that everybody could limit yourself to one question so that everybody gets a chance to ask the question, and please introduce yourself before you pose your question. Our first question comes from the Beijing venue. May I invite the lady on the left on the third row, please.
Hello. I am from CCTV. In 2025, you have achieved a stable and fantastic results. Congratulations. In terms of profit growth, we see that there's a positive recovery trend as well. May I ask, what's the core drivers behind this good performance in 2025? And what's the outlook for our operations in 2026?
May I invite our President to answer that question. Thank you.
Thank you, Madam Wu, for that question. In 2025, the CCB's business has continued its steady progress. I should say that the high quality development has achieved certain results. Our steady foundations are getting better and better. Our total assets have surpassed RMB 54 trillion. Our net profit is RMB 339 billion, 1.04% growth. Our profit attributable has grown by 0.99% as well. Our operational revenue has also grown by 1.69% and 1.7% respectively profit before provisions. These are the key metrics. In terms of the trend, ever since Q2, our operational income has continued to grow. Our annual profit growth continues to be healthy. The development quality continues to grow and improve. A lot of our assets have been optimized and improved in quality.
Among our loans to key sectors under the Five Priorities have continued to go up. Our ROA, ROE, our NIM, our capital adequacy ratio, our cost-to-income ratio, and non-interest net income ratio all are very balanced. We continued to lead the pack among our peers. Our income structure continued to be more diverse. 22.69% non-interest net income ratio, which is a year-on-year increase of 3.65%. Our subsidiary contribution from overseas continued to increase. These two entities has gone up by 0.98% in terms of their net profit. I would say I attribute our success to the following five reasons. Firstly, we are able to stabilize the basic NIM structure, and the decline has continued to narrow.
In terms of quantity, we have a 9.38%, which is a 1.38 acceleration, primarily because our core asset growths have been faster. The average liability balance net is at 89.13, which is a year-on-year increase of 0.66% in terms of price. We continue to lead the pack in terms of our profit. The decline has decreased by 2 basis points year-on-year. 1.32, which is a 33 basis point decline in our liabilities for savings, which is a very good foundation for this to continue to improve our business. In terms of the structure, we have increased an investment into mid- to long-term quality efforts.
Among non-discount loans, for one-year+ loans of duration has increased by 0.8%. We continue to consolidate our traditional advantages in this space. Personal consumption loans, personal business loans have achieved double-digit growth for three consecutive years. We continue to accelerate settlement of a low-cost financing. Domestic loans is at 24.34% by proportion, which is still a very good level compared with our peers. Secondly, we offer more in-depth comprehensive services. Non-interest income continue to grow. We continue to create value through service to achieve a win-win situation with our clients. 5.13% of growth in the non-interest income front.
We consolidate traditional interest-based income, but on the other hand, we continue to improve our services, capabilities, wealth management, asset management, and the revenue from all these areas continue to grow steadily. Amongst which, our wealth management products growth has been faster, more than 25% growth, for funds which we sell, and for wealth management is more than 90% growth year-over-year. This is all like higher growth compared with our administrative fees, which is a net growth. We continue to assess the market to improve our investment strategy. Equity-based investments and relevant income revenue has grown by more than 40%. Thirdly, we continue to manage our costs. Fee controls has been working.
Our cost ratio is 92.44%, which is a 14 basis points improvement, continue to be a very healthy level. Amongst which, operational fee increased by 1.54%, which is lower than our operational income growth. Structurally speaking, we continue to manage our operational costs. We are going to increase our input into key businesses, accelerate digital transformations. Fintech is 3.61%, which is 0.26% growth of overall income. We are gonna continue to improve our asset management and risk management. Our asset maintains healthy. NPL is 1.31%, which is a year-on-year decline of 0.33%. Our risk management capability is quite adequate.
Our provision coverage ratio is 233.15%, which is basically flat year-on-year. We consolidate our customer base, enhancing our overall service capabilities. In terms of quantity, we have expanded our scope of coverage for our clients. For corporate clients, 12 million+, which is an increase of 1.05 million different clients. Our different unit clients have also increased by more than 10%, which is both 9.9% growth year-on-year, which is one percent faster growth compared with last year. Personal customers have surpassed 785 million customers. Our number of wealth management clients and private banking clients have both achieved more than 10% growth.
Our CTS customers, the total assets have grown. Assets under custody have increased to more than RMB 27 billion, which is a high 20-something percent double-digit growth. Our product coverage, our client activity are all looking good. CTS, our personal customers have achieved double-digit growth. 2025 is the starting year of the next five-year plan period. We are gonna continue to work with the government to build a better life for our people, our nation. We are confident and capable that we can achieve long-term sustainable and resilient business performance. We're gonna continue to leverage our traditional strengths in liability management business and to in-depth find more service value propositions amongst our clients.
We would have an effective growth of our quality development and a reasonable amount of quantitative development. Thanks to our traditional base, we are able to continue to work on our Five Priorities. We want to be one of the leading banks in fintech. These several consumption stimulating policies to optimize the product supply out there in the market, to enhance our international competitiveness, to improve our quality loans. We are gonna develop our service capabilities to better integrate the rural city areas development, to continue to build both corporate and commercial banking, domestic and foreign integration and room for development in our customers' development. We're gonna empower our business development through finance.
In terms of asset liability, we enhance our liability side greatly to enhance our core loan business to more settlement management and wealth management type of funding, which can effectively help manage our costs. On customer service side, we are going to have a more tier-based approach in customer service to upgrade our customer service model. We use different models to offer a better comprehensive and optimized financial services solution for our customers. We are gonna continue to manage costs and increase efficiency to increase our pricing management mechanism to restrict the low yield assets to further stabilize our overall business.
That the new momentum can be created. We will also optimize our services and increase their quality. We will also enhance our stability management. We continue to enhance lean management. Based on the solid development, we should explore more room for lean management so that the cost effectiveness will be improved. Thirdly, we will have to have a preemptive management and get higher-quality risk control assisted by AI, improve the comprehensive proactive and intelligent management system so that we can more actively respond to the risks. We have to stick to the Three Lines of Defense, also enhance the m anagement of the NPL. Thank you. That's all.
Thank you, Mr. Zhang. Now I would like to invite questions from Hong Kong. The lady on the left, the third row.
Thank you for the opportunity. I'm from JPMorgan. I'm Lillie Li . My question is about loan. We see that in 2025, it has the very steady growth to about 7%. Just as spoken, this is the opening year of the 15th Five-Year Plan. What is the new arrangement compared with 2024 in terms of regional disbursement and the sectors? How different would it be?
I would like to invite Mr. Zhang to answer the questions.
Thank you, Miss Li, for your question. Your first question is about the loan disbursement sectors. In 2025, CCB sticks to serving the real economy, and we also stick to the strategy of quantity and pricing balance. We also continue to expand our customers and markets, and we also add to the pipeline of the key projects. The loan growth is steady and enjoys high quality. In terms of quantity, we enhanced our capacity to support the real economy. We have two highs and two advancements. The two highs include the growth of 7.47%, up by one percentage points than the average of the industry. The second high is the domestic loan is 8% in terms of growth.
It is also higher than the CCB average. It also supported the real economy. What are the two advancement? First, in terms of the residential loan and the retail consumption loan, the disbursement are also leading in the industry. In terms of the retail consumption and also the advancement of some structural arrangement, we continue to support the mandatory needs for residential improvement of the customers. In terms of residential finance and retail finance, we maintain our competitiveness in compared with our peers. We continue to improve the quality, and we have two elevation in the key areas and key regions. The loans percentage continue to increase.
In 2025, CCB also has the Five Priorities, and all the key area and the Five Priorities have recorded double-digit growth. In terms of technology loan, it also exceeded RMB 5 trillion and increased by 89% supporting the high-tech company. The green finance also increased by RMB 6 trillion. The inclusive finance also stands at RMB 3.69 trillion. We continue to expand our customer base in terms of pension finance and digital finance. It reached 53 and is up by 15% and 18% respectively. We also continue to enhance the manufacturing and infrastructure, so the loans to these key sectors have also recorded double-digit growth.
In some key regions like Beijing, Tianjin, Hebei, Yangtze River and GBA, Chengdu, Chongqing also has maintained a very steady growth. It's also higher than the average. The retail finance continue to show its competitiveness. The domestic loans also exceeded RMB 9 trillion, and it also takes up 32% of the total loans. Compared with our peers, we also maintain a leading role. This is a solid support for our steady development. In terms of the total arrangement for 2026, this is the opening year of the 15th Five-Year Plan. We will try to guarantee a steady growth. In terms of structure, it will be driven by the domestic need. Also, we need to nurture the new quality development.
The macro policy is more proactive, and we will support the industry upgrading, the internal needs satisfaction and the internal social welfare services. All these sectors have provided good opportunity for our banks. We will stick to the strategic goals, guarantee the steady volume, and also will be structure-oriented. We will respond to the needs and improve the high quality development of loans disbursement, and we will guarantee steady total volume. We will guarantee a reasonable growth of the total scale. For the new increment of 2026, it will maintain very steady as compared with the previous years. In terms of the rhythm, we will also get a little bit more energetic, and we will have two anchorings.
First to the corporate loans. We will support the modern industrial clusters and systems, realize the new quality development, support the emerging and the strategic sectors, especially the high technology sectors. We will also continue to dig out the investment needs, centering around the Five Priorities and manufacturing and key infrastructures. We will also echo the objectives of 109 items in the 15th Five-Year Plan in terms of the local government dedicated loans and some new emerging markets loans. We will also provide our support so that we can support the industry transformation. We will also support the domestic demand, consumption and its growth.
We will also execute some dedicated projects and make full use of the fiscal policy, support the EV automobile, the electronic devices and digital devices consumption and travel, tourism, catering, and the hospitality services so that the client's experience will be elevated. We will also guarantee the demands of the service industry. For the property markets, we will also be prudent, support the commercial residential buildings, support the social welfare system reform and enhance our competitiveness in the real estate sector loans. Through these measures, through our efforts, we will continue to maintain our edge in terms of the retail consumption loans. Thank you.
Thank you, Mr. Zhang. Now, I would like to invite a question from Beijing. The lady.
Thank you. I'm from CICC. I'm Xu Hongming. We noticed that in 2025, the decline of NIMs continue to show very steady momentum. Can you introduce the NIM influences in terms of supply and demand sides? And also, what is your outlook for NIM in 2026?
Now, we would like to invite our CFO, Mr. Sheng Liurong, to answer the questions.
Thank you, Ms. Xu, for your question. Your question has two aspects. In 2025, performance and the 2026 outlook of NIM. In 2025, the NIM is 1.34%, as reported by Mr. Zhang. Vertically, we can see that in 2025, the NIM narrowed by two pp. In terms of the changes in the four quarters, the spread continued to narrow. Horizontally, we compare with our peers. Our NIM is also maintaining a leading position. Our also have reached a balance in terms of the quantity, price and the spread. For the 2026, three factors will influence the NIM. First, the savings deposits has a repricing, and we have completed a repricing, so the loan pressure has been alleviated. Secondly, for the interest rate, for the high interest savings deposits, and most of them will be mature.
The interest pressure will be lower, thanks to 2024. In 2024, the bank industry has executed a good mechanism. We have attributed our growth to that aspect. It has kind of buffered the loan interest influence to NIM. Thirdly, through very proactive management and the structure optimization, we have also decreased the loan interest buffered the negative result of the loan interest decline. Through the management optimization and through cash management and also some payroll services, so we can make better use of our custody capital. You ask to analyze from the assets and the liability side. In terms of asset side, we continue to improve the quality of investment, mainly the bond investment. The percentage has been increased. President Zhang also mentioned that our interest capital also increased recorded increase.
For some financial investments, its percentage also increased by 1.6%, it helps the asset side. Through structural optimization, the negative impact has been offset. In terms of liabilities, through our differentiated liability management, we also reduced some high interest rate savings, and we also have expanded some peer savings so that the high interest savings impact will be reduced. It also helped to narrow the spread of NIM. For 2026 outlook, we can also analyze. We can also look through the macro and micro levels.
In quarter four of 2025, the banking report also mentioned that we need to enhance the system and also strengthen our monitoring, reduce the liability cost of the banks. [Non-English Content] In other words, in terms of macro policy, the PBOC, on the one hand, pays attention to the market orientation of the interest rates. They also pay attention to the reasonable costs for bank operations. I think that macro trend is quite obvious. From a micro perspective, through improved liability management, active debt management, which is very effective to optimize our asset liability structure, to enhance our multi-tiered customer pricing mechanism. From the asset side and the liability side, we expect to be able to do more. We believe, through our active debt management, we can continue to enhance our quality and efficiency of our operations.
Therefore, we are confident the NIM decline could continue to slow down, and we are confident that our NIM would still compare favorably compared with our peers in the future.
Thank you to our CFO, Mr. Sheng. Next question comes from the Hong Kong venue. The gentleman on the left from the fourth row, please.
Thank you for that opportunity. I am Yang Shuo, Goldman Sachs. You just mentioned that you did pretty well in terms of your asset returns, right? What about bonds? Because in 2025, the scale and yield of your bonds were all very good. What's the highlight of your bond investment philosophy? Secondly, outlook in 2026 in terms of asset allocation strategy and investment returns outlook. Can you comment on that, please?
May I ask, Executive VP, Ji Zhihong from Hong Kong venue to answer that question. Thank you.
Thank you for that question, and thank you for paying attention to our performance. As aforementioned by my colleagues, in terms of our CCB investment, you know, actually both, our CFO and our president has mentioned, how we have, increased our efforts in terms of asset allocation. That way, our books are more resilient. That's a very, a very, important factor. I'd like to say three things. There's like broader trends in changes in social financing and social lending, and, in reference in this, new environment, we are going to double down on our efforts of asset allocation.
Corporate loans for the first time has surpassed other forms of loans. We are gonna continue to support this active fiscal policy. Government investments is RMB 12.8 trillion annually last year, which is leading the way out there in the market. Secondly, we will comprehensively satisfy domestic and foreign direct lending needs from our clients. The financial loan growth is quite rapid, like green loans, pension loans, and tech loans. These are all actively growing area. We continue to participate in panda loans, offshore renminbi markets continue to strengthening, which is in alignment with our overall capability to serve the development of the real economy. Secondly, we have enhanced active management. That's another thing.
In light of the complicated market environment, we have increased our forward-looking aspect of our asset allocation. Right now, our bonds have surpassed RMB 12 trillion in terms of size, which is quite substantial. In order to proper management in terms of our investment strategy, we are more active and nimble. We want to seize opportunities out there in the market. We are able to make much more use of existing capacity, and we have improved our integration of domestic and foreign currency. We have many ways of asset allocation to optimize asset structure to increase the profitability and stability of our assets. Thirdly, we are actively participating in the bond trading market to increase our customer service capability.
We, of course, are a big bank, and we actively perform our obligations out there in the market to continue to expand our circle of friends in our trading, which is 127% increase in our size of our circle, more than 50% increased distribution. At the same time, through satisfying SMEs and the investment needs of various type of clients, the annual transaction volume has surpassed RMB 100 billion. The centralized settlement business is also a key business of us which achieve new breakthrough. When foreign investors want to come to China and invest in China, we provide a brand new, more convenient channel for them to invest in renminbi-denominated assets. We are developing that.
We also provide a fixed income and other FICC types of services in order to satisfy the various needs of our clients. On your second question, market uncertainty is still quite high at the moment, I'd say. Particularly, geopolitical factors have impacted the financial market somewhat. What we need to pay attention to is how much the rising energy cost will change the risk appetite and expectations of the market at large. Right now, overall, domestic liquidity is very stable. External market, the volatility out there in the foreign markets are actually greater. Of course, the foreign and domestic markets are linked, and we have seen different risk profiles for some types of traditional assets. In that environment, we are going to continue to maintain our stable, steady value-orientated investment principle.
We are gonna continue to make sure to attune our strategies appropriately to respond to the market conditions and strike a good balance. Those are the three major areas that we are gonna work on. The three areas are actively adapting to changes in daily needs of our clients, including value creation and customer service. Secondly, we know that the yuan market, the renminbi market, and the opening up of the renminbi market is, you know, vast and rapid. Offshore issuance of dim sum bonds is very convenient, very convenient these days. Domestically, we also issue perpetual debts. We are gonna continue to optimize the coordination across domestic and foreign markets, across domestic and foreign currencies. As a flagship institution, right?
Hong Kong, of course, an eminent Asian financial hub, trading is very active here as well. We do recommend international players to actively participate in trading in the Hong Kong markets. Fixed income as an asset class has shown very positive development trends. As the yuan market and renminbi market continues to expand here in Hong Kong, we have a lot of opportunities. Furthermore, we continue to emphasize on multi-strategy adoption, more active management in order to make sure that the full group in terms of operational management, we are able to do more innovation amidst this volatile environment. The key thing is that we have to have adaptability in face of the markets and clients, particularly managing significant volatility risks.
The CCB has to play very various roles in this regard. We are a service provider, we are a bank, et cetera. We have to better leverage our foreign and domestic currency integration advantages. Mr. Zhang has brought this up just now. The targetedness, the diversity and the efficacy of our operational strategies will continue to be enhanced, in particular in our execution must be enhanced, to make sure our investments work out. We are going to increase investment into our tech empowerment to build a smart ecosystem. Right now, digitalization has many applications in financial trading.
Things are developing rapidly, and the CCB is going to continue to invest in developing such capabilities, iterating and evolving our systems, upgrading our systems to make sure that finance and bond investments can continue to develop in a high quality manner. Thank you very much.
Thank you. Thank you, Mr. Ji. Next question comes from the Beijing venue. The gentleman on the fifth row on the left, please.
Hello. Thank you for this opportunity. I am Lu Yuhang from CEIS. My question is as follows. The external environment is very complicated, and our country's economic development is facing a structural change as well. Despite that background, in 2025, your NPL ratio has continued steady decline. Your asset scale is also steady. May I ask what measures have you adopted in terms of risk management? With respect to future risk assessment, what do you think, especially in key core areas such as consumer loans?
This question will be addressed by Mr. Li Jianjiang.
Thank you. Thank you for your question. 2025 is the last year of the 14th Five-Year Plan, and we at the CCB continue to implement the strategies by the central government and the State Council. We're gonna continue to focus on resolving and preventing risks as a first priority of our bank. Mr. Zhang has already cited a lot of relevant data. Up to last year, the NPL ratio is 1.31%, which is a 0.03% decline year-on-year. 1.77%, the 12 basis points decline of such loans. As you've seen, right, we have improved on these metrics. At the same time, our risk management capacity is substantially adequate. Our provision coverage ratio is 253.15% flat year-on-year. Over the past period of time, in face of various risks and challenges, the CCB has continued to think about the bottom line risk management mentality.
We continue to properly coordinate and manage preventative risk management measures to make sure our overall risks are under control. On the one hand, we continue to persist on high quality development to hold true to our baseline security. We want to actively service the real economy, focusing on Five Priorities to increase our capacities in service of key areas. We are gonna continue to do that, and our risk control measures will not weaken as such a result. Therefore, our NPL ratios continue to improve and our asset structure continues to improve. Furthermore, we have had to defend the risk bottom line resolutely through better risk control measures. We actively agilely build up our risk management systems.
We enhance the synergy across our three risk management bottom line mechanisms and integrate the group-wide risk management. We started to assess and improve our efforts when it comes to assessing the nature and trends of risks to offer more preventative measures. Over the past period of time, you asked about the increase in risk associated with retail loans. We continue to focus on the changes that need to be made. With respect to our retail business, we are gonna enhance the risk management control measures therein and continue to focus on the key risk hedges in the key processes of our retail loan risks management mechanism. I could say that over the past year, these measures have worked. The CCB's personal loans non-performing ratio has not increased as quickly as it did before.
With respect to the current environment, we think risk management in retail loans will still be the key focal point of our work. I believe as our management mechanism, our risk control measures continue to be fine-tuned and implemented better. We are confident that we are able to maintain quality business in our retail business and control the risks therein. The new year would be the first year of the 15th Five-Year Plan period. It would be a key and pivotal year to accelerate and improve management of a great nation. The CCB will continue to implement President Xi Jinping's important guidance on the three key capabilities we have to continue to do risk management properly to better coordinate developmental security. We will work hard to achieve a good start, steady progress to continue to serve high quality development and provide a solid foundation. Thank you.
Thank you, Mr. Li. Next question is from the Hong Kong venue. May I invite the lady on the right third row to ask her question.
Hello. I am Lu Xiwen from Phoenix TV. I'd like to ask, right now, the bank industry is accelerating its deployment in AI technology. What are the key initiatives that CCB has with respect to AI tech?
May I ask Executive VP Lei Ming from the Hong Kong venue to respond to that question. Thank you.
Thank you for that question. This is an important opportunity. The AI technology has provided a lot of opportunity, and we are going to implement the nation's strategy to continue to do the AI plus implementation, to focus on in-depth application of AI technology across all our business segments. Firstly, we have improved our foundational capability of AI capability.
As you know, there's computational power, data, and algorithms. In terms of computational power, we reserve enough room for our computational power for further development. We have five different data IDC centers with high computational power clusters. Over the past year in Daojianghu IDC, our computational power continued to be unleashed in [Haidian and Guizhou]. In these two new areas, we have advanced IDCs which are being built and progress is very smooth. We also reflect a FLOP of over 14 trillion. So you can see that the one P is hundreds of billions of FLOPS. So one FLOP would be 1.4 billion of computing. So it also increased by 14% compared with 2025.
We also have monitored the AI system better in terms of algorithm. All the advanced models has been adopted like DeepSeek, Qwen and Zhipu. We also has the coordination of big models and the small models. The decision-making AI has also been integrated. In terms of the digital model, we also have accelerated the unstructured model and the clearing of the stock data. We know that the potential of AI depends largely on how clean and how well you comb the data. We need to sort out the data in a good way, and we need to also set up a database, including the experience base. We also introduced over 500 million items of data, of experience data, and we also advanced the application of different sectors. We also have the people-centric principle, stick to high-quality development in two dimensions.
We also promote the linear management, deeply integrate various data, continue to optimize the whole procedures, emphasize on the service of various smart applications and smart management, smart risk controls. We have constructed over 400 scenarios covering all the six areas. I would like to report the six areas. First in terms of the channel service, interactive AI. Interactive service and AI also completely upgraded our service. We try to have automated identification and very speedy response through remote dialogue. We improved the quality and efficiency of service for the employees. We also have assistant to the employees so that the convenience of our work is also being elevated.
Now we have various scenarios applied, and also we are leading in the industry. If the employees want to check up some guidelines or principles or write an article, or they want to utilize some data or check up the data, they can all rely on AI to help them. In terms of the business, [Banban] is the smart application. [Banban] means help the manager to get enough sales support. We have the retail and also inclusive finance. All the managers can get all the integrated, comprehensive, and whole chain assistance. If a retail manager wants to get the customers, they cannot remember too many customers' names. They cannot cover so many customers.
It will be too already a high level for them to cover 100 of them. Through the smart assistance, they can manage over 20,000 customers. The manager can conduct a high quality and high efficiency service to the clients, providing customized service to the clients. In terms of products, AI is deeply integrated into the AI product, including inclusive, the corporate and the settlement businesses. In terms of international settlements, we also have the technological breakthrough through over 500 smart judgment points. We also realized a smart analysis, and we have also had the smart extraction of some anti-money laundering points and the cross-border settlement.
We know that some cross-border settlements may come in the form of images or videos or even black and white papers. So we need to extract all these information through smart tools. The third is about the operation. We comprehensively improve the intelligence level of operation. In terms of question response, AI already reached 99.42%. That means when our clients want to raise questions to the head office, 99% is answered by AI firstly. The AUM, the active user daily is over 100,000. We also have a dynamic monitoring and a dynamic management of AI. AI also covered R&D and design.
In terms of coding, it contributed over 62%, adoption over 48%. It helps to improve the efficiency of employees. The 48% test passing rate is very key. We know that to design a system and design a demand, whether it is truly useful, especially for a high frequency transaction scenario of banks, we need to have a good test. The test is generated by AI. It has greatly improved the efficiency. In terms of risk control, we also have AI plus risk control system. In terms of the licensing, the approval vetting system and approval system, we also use AI. We also rely on the generative AI to have a whole procedure application. In terms of approval level, we recorded a double-digit growth.
In the meantime, the average handling time also decreased by 30%. We also continue to enhance quality control. We highly emphasize the compliance issue of AI. We have a multidimensional safety and risk control for AI. We also established a big model, the alerts, and the red flag raising keywords, so that the cybersecurity can be enhanced, the coordination also can be more smooth. We also guarantee the sensing of some sensitive information. The AI tools and also all these AI assistants, when they are used, the users, the human users will be the gatekeeper so that all the AI application will be fully under control and monitoring of human.
We will also seize the trend and continue to improve the efficiency and the safety of AI adoption. We use technological power to support the high-quality development of our banks and support our financial system enhancement. Thank you for your question.
Now, we would like to invite question from Beijing. The gentleman on the right in the fourth row.
Thank you. I'm from Guolian Securities. I'm Wang Qingshuang. My question is about savings and deposits. First, can you introduce our 2025 savings growth and characteristic? And then in 2026, our estimation is that a lot of the savings will be mature, especially the retail savings. So what is your feeling about it? What about how do you feel about the retail savings and any new changes? And t o respond to the new changes, what are the measures to be taken?
Okay. I will answer the question. Thank you for your question. I would like to answer the first question first. We always have a people-centric principle, pursue high-quality development. In 2025, we enhance the steady savings and deposits. The savings growth is steady. The optimal structure and have a deeper structure. It continued to growth. By the end of last year, the volume is over RMB 30 trillion, increased by 1.21%, at RMB 112 million, guarantee the volume of the capital. We also has look at the structure. First, about the retail savings, it has a rapid development.
The balance also increased by 1.7 percentage points to 4.6%. The corporate savings also increased by 2.66 percentage points. The savings also increased to over RMB 400 billion, and we're maintaining a leading edge in the peers. We will also balance the quantity and quality. The savings is increasing steadily, and it is on par with the increase of clients. The ratio is also very steady. It has a slight decrease as compared with 2024. For the hot topics, the savings are growing steadily. The volume is over RMB 18 trillion. Deposits are nearly RMB 12 trillion. The maturity level also is increasing. The asset quality level is good.
For the financial assets of the retail, it has some new dynamics flowing to the funds, for example. This momentum may continue this year. We would ride on the trend. In 2025, AUM is over RMB 23 trillion, up by RMB 1.4 trillion for insurance and some precious metal products continue to grow. Next up, we will focus on the bottom logic of wealth management, continue to enrich the product structure, and design more products for our clients. The third is about how we can guarantee the stability of savings. We will follow the momentum and meet the customer demands, the new changes, optimize the service and promote high-quality development of savings and deposits.
For the corporate and retail needs, we have co-optimized our network, like payroll services. Next step, we will also focus on some key products and the scenario coverage, expand the scale of capital so that the high-quality capital can be maintained. We will also respond to the needs, provide comprehensive one-stop services, and serve the corporate and the individual clients well. We will also continue to improve our system, provide a good experience to the clients. Now, I would like to hand over the next question to Hong Kong.
I'm from Hong Kong Commercial Daily. I'm Zhang Hongbin. We noticed that in recent years, the fee income of the banking industry is affected by the lowering of the fee policy. Hong Kong banks are also diversifying the businesses to cope with the challenge. CCB has recorded a positive growth of fee income. We want to know what are the sources of a fee income increase, and what about the intermediary business growth opportunities?
Okay. Mr. Sheng Liurong will answer the question, please.
Well, thank you for that question, Mr. Zhang. As you've said, ever since 2023, due to a series of fee reduction measures, the growth in that revenue for our bank has faced some challenges. In 2025, overall, our intermediary revenue growth is pretty good. Overall, it has reached 105.31% growth, more than RMB 100 billion. Maintaining the momentum on one hand, we also see two positive features. Firstly is asset-light. Our admin fees revenue accounts for 14.89% of overall fees, which is a 0.449% growth, which is leading the pack. Certainly, the revenue structure continues to be improved.
In 2025, our asset management, our wealth management, our custody management service business contribution continues to goes up. This means that our new types, new kinds of intermediary services growth has seen newfound momentum. In 2025, this new momentum is quite strong. You mentioned that in 2025, our intermediary income, you know, and what are the highlight areas? There are three to highlight. Firstly, we consolidate our advantage in our traditional strengths. On the one hand, we satisfy the money transaction needs for both the private and public clients. Secondly, our traditional bank cards, payment services, settlement services, the revenue on all those fronts continue to grow.
Our bank cards, the payment settlement related revenue has reached more than RMB 57 billion. In other words, more than half of our revenue comes from these sources, which is our base. Third-party payments is more than RMB 22 billion. Credit card, more than RMB 15 billion revenue. To public entities more than RMB 11 billion, both the foreign and domestic currencies. This is the area that you highlighted. The growth in revenues in these areas continues to. It's about our solid foundations, our rapid networks, and our continually improved and reiterated products. As Mr. Zhang, our President, has mentioned, our settlement accounts with public entities have almost reached 18 million different accounts. Several pieces more of data.
Our mobile payments credit cardholders has reached 493 million, right? Almost 500 million included. Our network accounts have more than 100 million different cardholders, and our transactions have more than 2 billion transactions annually, right? These are all leading indicators compared with our peers. Secondly, a key area of development would be in 2025, the Chinese capital markets have recovered, and the bond markets has also recovered somewhat, and we see opportunities.
Last year, in terms of wealth management and asset management, we also recorded a positive growth. In terms of wealth management, it is a hard-won success. In 2023, actually, the fee income continued to decrease, so we have to enhance our customer base and expand the business scope so that we try to get some more income through these measures. We have intermediary services like selling insurance products, the funds and the precious metal products. The income is around RMB 8 billion. This is really hard-won results, and it attributes to the expansion of our customer base and also our services expansion.
The wealth management clients also increased by 8 million. It also has a new increment of 930,000. In terms of the scale, the daily volume is around RMB 5 trillion. It does not include the traditional savings business. This is about the other wealth management products. The growth is over 15%. In terms of asset management, the revenue is over RMB 15 billion. The AUM is around RMB 6.94 trillion. The growth is over 20%. Another thing worth noting is that wealth management and capital management has a very important link that is the custody business. Last year, the custody income also reached RMB 6.5 billion. The scale is over RMB 37 trillion.
It also has a Y-o-Y increase of over RMB 3 trillion. Over the years of exploration, we have a wealth management, asset management and custody business, and these three priorities have contributed a lot to our business. The third area is to promote our characteristics. Some businesses are leading, like some specialty businesses, we have a competitive advantage. There are several aspects. First, we respond to the diversified financing needs of the customers. Like investment business has also recorded positive growth around RMB 7 billion. We have a unique business called the fair selection business. Because we are construction bank, we are born for construction. We also prosper for construction. In terms of infrastructure, we have a license, that is, the engineering consultants.
Years ago, the real estate business is transforming and is restructuring, so the consultants business in real estate has declined. We have transformed the business in terms of key infrastructure and the information infrastructure. We have expanded the business in terms of the traditional infrastructure, like railway, the airport and some hydraulic projects and the railway businesses. For the new emerging sectors like the wind, solar power and also of the fiber businesses. We also expanded to a whole life cycle consultancy, and the revenue also reached RMB 2.3 billion last year. We also had the pension finance, and the related business.
We serve the clients of the social insurance, the settlement, the payment, and also the loan of the residential insurance also are handled by us, and the revenue is also very good. These are all the contribution of various fee sources. For the 2026 outlook, I think it has both challenges and opportunities. In terms of challenges, you also mentioned just now that there is a policy of the fee reduction, so it will continue to have its impact. This is a common challenge faced by the whole banking industry. For opportunities, there are still a number of them.
Just now, President Zhang also mentioned, no matter from the 15th Five-Year Plan or the government address, we all emphasize the importance of internal demands, domestic demands, and consumption is number one for consumption demand. We will continue to satisfy the new consumption models. These will be good opportunity for our settlement business, like the consumption, credit card settlement businesses will continue to be enhanced. The second aspect is the capital market booming. The investment mindset is also enhanced. We have the wealth management, asset management and the custody businesses. These are three driving forces are very important. We are also improving the modern system development in terms of stocks, securities, insurance, loans, etc.
We have multiple licenses of these different businesses. In terms of integration of all these businesses, just as mentioned by Mr. Zhang, in terms of financing, the financing of different demands, we can also satisfy our clients. I believe overall, due to many reasons, our intermediary fee revenue can continue to maintain this steady growth trend. Thank you.
Thank you for your response. Recently, we have, of course, made an announcement about today's results announcement event. We have collected questions through channels such as our investor hotline, email, and we also have a live stream today, and some investors have left comments to interact with today's event. Most of the questions raised by online investors have been answered in previous questions. A lot of people are still very curious about our Five Priorities. We're gonna pick one of those questions. This question reads: Fintech is number one amongst our Five Priorities.
It's also a very important lever for building a modern, service industry ecosystem and to cultivate new qualitative productive forces. What have you done in this area of Fintech? I'd like Executive VP Lei Ming to answer that question.
Thank you for the question. With respect to the service area, service area covers nurturing tech talents, innovative tech services, conversion of R&D results, and to build and run an ecosystem of technology. We serve tech firms, tech parks, science parks, technological practitioners, developers, institutions and other entities. Specific work include a ll of our value-added services across the entire ecosystem of our bank services. I'm gonna comment on those. Firstly, we actively develop our integrated service advantage. We are gonna break through our industry and create a positive feedback loop. We are going to actively serve great financial needs to have solid long-term investments into hard technology using our group capabilities. In terms of enterprise innovation, we are accelerating equity financing efforts in early stages of investments.
We use investment equity insurance bonds, and we use many diverse tools to empower technological entrepreneurship and industry entrepreneurship. We continue to develop clusters of innovative fund clusters. Please pay attention to the word clusters, right? We work alongside in Hubei, Sichuan, Xiamen, Shanghai. In those areas, we work with the nationwide fund entity to establish innovative tech funds. We use this patient capital to nurture tech upgrade and enhancement, and steadily promoting the progress of financial asset investment companies and equity pilot schemes. Accumulatively speaking, we have set up 28 pilot funds to continue to enhance the toolkit we have for equity investment. More than 160 issuers investing into more than 80 different tech firms, empowering tech companies and optimize their financial capital structures. Secondly, we use our advantage as a large bank to empower technological innovation and industry innovation and its integration and synergy.
In terms of enterprise innovative capabilities, we have a patent valuation model. Our technological valuation model has already obtained three nationwide level authorizations. Our traditional sheets, right? The balance sheets, our profit sheets, our cash flow. In the past, our customer service managers basically look at these three things, right? To depend on your creditworthiness. In order to adapt to the development of fintech, we have innovatively looked at the fourth sheet, what we call an innovation sheet. In that sheet, we introduced IP innovative capabilities and information pertaining to the founder of that tech firm to quantify and digitalize and to help more potential tech innovators to access funds and finance. When it comes to enriching our financial product offerings, we have more convenience conversion loans, tech innovation loans.
We have a lot of special products which effectively satisfy the differentiated needs of these tech firms across different phases. As you know, that tech firms grow very rapidly, but in the startup phase, in the growth phase, and the mature phase, they need different services in both scale and variety. Therefore, throughout their entire life cycle, we must provide them with a basket of financial services. Particularly for smaller micro firms, we have Shanx in Dai, Shank e Dai. These are new specialized products which has given out more than RMB 160 billion worth of loans, year-on-year growth rate of more than 50%. We have a 5.25 trillion worth of loans to tech firms, serving more than 300,000 different firms, leading the way across the industry.
Thirdly, in our work, we continue to focus on comprehensively building a team in tech and banking to service the nation's strategic development, focus on Beijing, the Greater Beijing, the Greater Shanghai area, and the Greater Bay Area to serve the construction of these tech clusters, innovative clusters. Wuhan, Xi'an, and Shenzhen, these are new innovative areas, are also areas where we focus on providing more support on. We have a five-tier interlinked, so at the headquarters levels, branches, Tier-2 branches, and even our frontline branches. At the headquarters, we have our innovative department, a tech department to focus on our. We have in several major key areas, we have innovative centers managed directly by the headquarters.
In some key Tier-2 branches, we have set up a directly operated tech center. These centers can better serve more local clients. We also have close-quarter services available. Throughout the group, we have enhanced the nurturing of a professional team to actively train people who knows finance, who knows tech, who knows the industry. We want to train these talents to support our future endeavors. In the future, our bank will continue to promote high-quality development of the entire fintech ecosystem. We want to continue our quality traditions and to carry forward those in this new era as a part of the important forces and important implementations in serving our nationwide strategy to become a advanced and great nation in terms of tech and other areas. Thank you.
We only have time for one more question. May I ask the gentleman at the very far right to the back. Thank you.
Thank you for giving me an opportunity to ask this question. I'm [Lijun] from GF Securities Company. I'd like to ask a question about personal consumption loans. Recently, the government has launched quite a lot of stimulus policies. The recent discount loans have been wider in scale, and the barrier of entry has been lowered as well. May I ask, what's the growth of a personal consumption loan at CCB, and what are the applications looking like? Furthermore, when it comes to helping stimulate domestic consumption, what more can CCB do?
Thank you for the question. Allow me to answer, Tang Shuo to answer that question.
The CCB continues to implement the strategic initiative of stimulating domestic demand and personal consumption to benefit the public and continue to promote these initiatives. To participate in the major initiatives by the Chinese government to continue to provide more fiscal support and financial support for SMEs and personal loans to satisfy the many different consumption needs of our nation. Personal needs, personal credit card in development indicators continue to be healthy. We effectively are able to stimulate and help finance such consumption behavior. The total balance has reached RMB 620+ billion, which is an increase of RMB 115 billion, which is more than RMB 100 billion growth for three consecutive years. The balance and growth is all leading our industry peers.
Ever since the implementation of this optimization, we continue to ramp up our advertisement on these discount loans. We offer discounts wherever we can to lower the spending and consumption costs of our customers. We have 630,000+ customers and provide discount loans for more than 18 million different transactions. We have done three things primarily. Firstly, we actively promote a collaboration between bank and businesses to engage in synergistic efforts. We work with nine commerce bureau departments to roll out a Spring Festival initiative.
We have a specifically themed consumption stimulus activity to stimulate consumption, and more than 25,000 businesses participate, reaching 750,000 customers with a ratio of 2.91. 18.5% growth and 21.3% of growth in consumption and consumption loans throughout the Spring Festival period. We continue to roll out the basket of policies of stimulating domestic demand to continue to build out more personal loans for relevant entities and credit card loans. In terms of stimulating personal consumption, we still lead amongst our peers. We continue to handle more subsidy issuance by the government fiscal department, a lot of old for new policies for home appliances and other things.
Last year in 331 cities, we gave out RMB 20+ billion worth of subsidies for the government, driving RMB 180+ billion worth of consumption. This year, we provide systematic support and actively enhance the efficiency of these events. Thirdly, we focus on key consumption areas and to support in financial innovation. We want to enhance the integration capability of our service spending, new types of spending, personal consumption type of model, and we want to adopt a new consumption model. We want new financial services to merge into new scenarios and merge with new forms of businesses.
And our CCB [Non-English Content], we build a lifestyle platform, consolidating resources to provide our customers with relevant loans such as upgrading, renovation, buying a car, buying houses. We have a lot of one-stop service and financing solutions. The next step, we're gonna continue to work along the main line of stimulating domestic consumption to further leverage our own strong digitalization capabilities to further work alongside in tandem with the government to enhance the quality and efficacy of domestic consumption stimulation policies to further contribute to society. Okay. That's the Q&A session for today. I'd like to thank everybody's participation. Our management have engaged in a frank, professional, in-depth communication with respect to questions on everybody's minds.
I hope that helped everybody better understand CCB's strategic measures, our performance, and our development trends. We have always cared about management of our market value and investor returns. We have already established the CCB Holdings Limited Market Value Management scheme, and we have relevant provisions and principles to govern the work relevant in management of our market value. Up to late 2025, our market cap has reached $265 billion, which is a 25% increase compared with late 2024. We will continue to promote our high quality development to continue to enhance value creation capabilities. We will continue to use steady cash dividends to thank our investors, to enhance our information disclosure and IR management, to continue to promote our investment value to the market, and actively implement our market value management mechanism.
That's basically the content for today's event. If you have any other questions and queries, please feel free to contact us at our IR team at our board office.