前11个月新增社融33.39万亿元，11月末M2同比增长8%

Core Insights - The People's Bank of China reported that the social financing scale reached 440.07 trillion yuan by the end of November, marking an 8.5% year-on-year increase [1] - The total increment of social financing for the first eleven months was 33.39 trillion yuan, which is 3.99 trillion yuan more than the same period last year [3] Monetary Supply - The broad money supply (M2) stood at 336.99 trillion yuan at the end of November, reflecting an 8% year-on-year growth [1] - The narrow money supply (M1) was 112.89 trillion yuan, with a year-on-year increase of 4.9% [3] - The cash in circulation (M0) reached 13.74 trillion yuan, showing a 10.6% year-on-year growth [3] Deposits and Loans - The total deposits in both domestic and foreign currencies amounted to 334.46 trillion yuan, with a year-on-year increase of 8% [4] - The balance of RMB loans to the real economy was 267.42 trillion yuan, up 6.3% year-on-year [2] - The total RMB loans increased by 15.36 trillion yuan in the first eleven months, with household loans rising by 533.3 billion yuan [5] Foreign Currency Loans - The balance of foreign currency loans was 542.9 billion USD, which represents a year-on-year decline of 1.6% [6] - The total increment of foreign currency loans for the first eleven months was 800 million USD [6] Financial Market Activity - The average weighted interest rate for interbank RMB market lending in November was 1.42%, which is 0.03 percentage points higher than the previous month [7] - The total transaction volume in the interbank RMB market reached 187.7 trillion yuan in November, with a daily average of 9.38 trillion yuan [7] Cross-Border Transactions - The cross-border RMB settlement amount under the current account was 1.49 trillion yuan in November, with 1.19 trillion yuan from goods trade [8] - The direct investment cross-border RMB settlement amounted to 0.71 trillion yuan, with 0.26 trillion yuan for outward direct investment and 0.45 trillion yuan for foreign direct investment [8]