4月末中国社融规模存量424.0万亿元，同比增8.7%

Group 1 - The People's Bank of China reported that as of April 2025, the total social financing stock reached 424 trillion yuan, reflecting a year-on-year growth of 8.7% [1] - The balance of RMB loans to the real economy was 262.27 trillion yuan, with a year-on-year increase of 7.1% [1] - In the first four months of 2025, the cumulative increase in social financing was 16.34 trillion yuan, which is 3.61 trillion yuan more than the same period last year [1] Group 2 - New RMB loans added in the first four months amounted to 9.78 trillion yuan, which is an increase of 339.7 billion yuan year-on-year [1] - Net financing from corporate bonds was 759.1 billion yuan, showing a decrease of 409.5 billion yuan year-on-year, while net financing from government bonds was 4.85 trillion yuan, an increase of 3.58 trillion yuan year-on-year [1] - The issuance of local government bonds has accelerated due to factors such as debt replacement and pilot projects for special bonds [1] Group 3 - The stock financing has seen a steady increase year-on-year, influenced by a warming in equity financing and a low base from the previous year [1] - Off-balance-sheet financing, including entrusted loans and undiscounted bank acceptance bills, increased by 95.9 billion yuan and 149.4 billion yuan respectively, continuing to support the real economy [1] Group 4 - Experts indicate that strong fiscal support and a rapid pace of bond issuance this year have effectively supported social financing, contributing to domestic demand expansion and credit easing [1] - The macroeconomic policies have shown positive effects this year, with increased fiscal policy strength and a more proactive pace being significant factors [1]