Core Insights - The People's Bank of China reported a year-on-year growth of 8.7% in the total social financing scale as of September 2025, reaching 437.08 trillion yuan [1] - The total increment of social financing for the first three quarters of 2025 was 30.09 trillion yuan, an increase of 4.42 trillion yuan compared to the same period last year [3] - The broad money supply (M2) grew by 8.4% year-on-year, with a balance of 335.38 trillion yuan as of September [4] Financing Structure - As of September, the balance of RMB loans to the real economy accounted for 61.1% of the total social financing scale, a decrease of 1.3 percentage points year-on-year [2] - The balance of foreign currency loans to the real economy represented 0.3% of the total, down 0.1 percentage points year-on-year [2] - The balance of government bonds increased by 20.2% year-on-year, reaching 92.55 trillion yuan [1] Loan and Deposit Trends - RMB loans increased by 14.75 trillion yuan in the first three quarters, with household loans rising by 1.1 trillion yuan [5] - The total balance of deposits in RMB and foreign currencies reached 332.18 trillion yuan, with RMB deposits growing by 8% year-on-year [4] - Foreign currency loans decreased by 5.3% year-on-year, with a balance of 554.4 billion USD as of September [6] Market Activity - The average weighted interest rate for interbank RMB market lending was 1.45% in September, reflecting a month-on-month increase [7] - The total transaction volume in the interbank RMB market for the first three quarters was 16.01 trillion yuan, with a daily average transaction volume of 85.6 billion yuan [7] Foreign Exchange and Cross-Border Transactions - The national foreign exchange reserves stood at 3.34 trillion USD as of September [8] - The cross-border RMB settlement amount under current accounts reached 13.06 trillion yuan in the first three quarters [9]
央行：9月末社会融资规模存量为437.08万亿元 同比增长8.7%
Shang Hai Zheng Quan Bao·2025-10-15 10:23