7月末社会融资规模存量 同比增长9%

Core Insights - The People's Bank of China reported that as of the end of July 2025, the total social financing scale was 431.26 trillion yuan, reflecting a year-on-year growth of 9% [1] Summary by Category Total Social Financing - As of July 2025, the total social financing scale was 431.26 trillion yuan, with a year-on-year increase of 9% [1] RMB Loans - The balance of RMB loans to the real economy was 264.79 trillion yuan, showing a year-on-year growth of 6.8% [1] Foreign Currency Loans - The balance of foreign currency loans to the real economy, converted to RMB, was 1.21 trillion yuan, which represents a year-on-year decline of 23.2% [1] Entrusted Loans - The balance of entrusted loans was 11.16 trillion yuan, reflecting a slight year-on-year decrease of 0.4% [1] Trust Loans - The balance of trust loans was 4.46 trillion yuan, indicating a year-on-year increase of 5.9% [1] Bank Acceptance Bills - The balance of undiscounted bank acceptance bills was 1.92 trillion yuan, showing a year-on-year decline of 10.4% [1] Corporate Bonds - The balance of corporate bonds was 33.39 trillion yuan, with a year-on-year growth of 3.8% [1] Government Bonds - The balance of government bonds was 89.99 trillion yuan, reflecting a significant year-on-year increase of 21.9% [1] Non-Financial Corporate Stocks - The balance of non-financial corporate stocks in the domestic market was 11.94 trillion yuan, showing a year-on-year increase of 3.2% [1] Structural Analysis - As of the end of July, RMB loans accounted for 61.4% of the total social financing scale, down 1.2 percentage points year-on-year [1] - Foreign currency loans accounted for 0.3%, down 0.1 percentage points year-on-year [1] - Entrusted loans accounted for 2.6%, down 0.2 percentage points year-on-year [1] - Trust loans accounted for 1%, down 0.1 percentage points year-on-year [1] - Undiscounted bank acceptance bills accounted for 0.4%, down 0.1 percentage points year-on-year [1] - Corporate bonds accounted for 7.7%, down 0.4 percentage points year-on-year [1] - Government bonds accounted for 20.9%, up 2.2 percentage points year-on-year [1] - Non-financial corporate stocks accounted for 2.8%, down 0.1 percentage points year-on-year [1]