7月金融数据出炉，社会融资规模增速保持较高水平

Group 1 - In July, M2 growth accelerated to 8.8%, with a balance of 329.94 trillion yuan, indicating a 0.5 percentage point increase from the previous month and a 2.5 percentage point increase year-on-year [1] - The balance of RMB loans reached 268.51 trillion yuan, growing by 6.9% year-on-year, while the balance of foreign currency loans was 272.48 trillion yuan, with a year-on-year growth of 6.7% [1] - The total social financing stock was 431.26 trillion yuan, reflecting a year-on-year growth of 9.0%, with an incremental increase of 1.13 trillion yuan, which is 361.3 billion yuan more than the previous year [1] Group 2 - The increase in M2 and M1 growth rates suggests strong financial support for the real economy, despite external environment fluctuations and real estate market adjustments affecting financing demand [2] - Current loan interest rates are at historical lows, and the banking system has ample liquidity to meet market financing needs, with loan growth rates around 7.0%, significantly higher than nominal GDP growth [5] - The monetary policy is expected to maintain a supportive stance in the second half of the year, focusing on reducing financing costs and increasing credit accessibility to stimulate domestic demand [5]