前七个月社融规模增量累计23.99万亿元，比上年同期多5.12万亿元

Core Insights - The People's Bank of China reported an increase of 12.31 trillion yuan in loans to the real economy, which is a year-on-year decrease of 694 billion yuan [1] - The total social financing scale increased by 23.99 trillion yuan in the first seven months of 2025, which is 5.12 trillion yuan more than the same period last year [1] Loan Breakdown - Loans in foreign currency to the real economy decreased by 725 billion yuan, a year-on-year decrease of 245 billion yuan [1] - Entrusted loans decreased by 689 billion yuan, which is a year-on-year increase of 116 billion yuan in the rate of decrease [1] - Trust loans increased by 1.592 trillion yuan, a year-on-year decrease of 1.48 trillion yuan [1] - Undiscounted bank acceptance bills decreased by 2.196 trillion yuan, a year-on-year decrease of 1.243 trillion yuan [1] Financing Activities - Net financing through corporate bonds amounted to 1.43 trillion yuan, which is a year-on-year decrease of 1.849 trillion yuan [1] - Government bond net financing reached 8.9 trillion yuan, a year-on-year increase of 4.88 trillion yuan [1] - Domestic stock financing for non-financial enterprises was 221.2 billion yuan, a year-on-year increase of 76.7 billion yuan [1]