央行11月重要金融数据一览：M2同比增长8%，前11个月社融规模增量超去年全年

Core Viewpoint - The People's Bank of China (PBOC) released the financial data report for November 2025, indicating a moderate growth in monetary supply and social financing, reflecting a moderately accommodative monetary policy [1]. Group 1: Monetary Supply - As of the end of November, the M2 balance reached 336.99 trillion yuan, showing a year-on-year growth of 8%, which is a decrease of 0.2 percentage points from the previous month [1]. - The M1 balance stood at 112.89 trillion yuan, with a year-on-year increase of 4.9%, down 1.3 percentage points from the previous month [1]. - M0 experienced a year-on-year growth of 10.6% [1]. Group 2: Social Financing and Deposits - The cumulative increase in social financing for the first eleven months of 2025 was 33.39 trillion yuan, which is 3.99 trillion yuan more than the same period last year [1]. - In 2024, the total increase in social financing was 32.26 trillion yuan [1]. - During the first eleven months, the increase in RMB deposits was 24.73 trillion yuan, while RMB loans increased by 15.36 trillion yuan [1].