11月份金融数据公布 社融存量同比增长8.5%

Core Insights - The People's Bank of China reported that by the end of November 2025, the total social financing scale reached 440.07 trillion yuan, marking an 8.5% year-on-year increase [1] - The report indicates a mixed performance in various lending categories, with significant growth in government bonds and a decline in foreign currency loans [1][2] Group 1: Social Financing and Loans - The total social financing stock increased by 8.5% year-on-year to 440.07 trillion yuan as of November 2025 [1] - The balance of RMB loans to the real economy was 267.42 trillion yuan, up 6.3% year-on-year [1] - Foreign currency loans, converted to RMB, decreased by 16.5% year-on-year to 1.13 trillion yuan [1] - The increase in RMB loans for the first eleven months was 15.36 trillion yuan, with household loans rising by 533.3 billion yuan [3] Group 2: Breakdown of Financing Components - Trust loans increased by 7.4% year-on-year to 4.6 trillion yuan, while entrusted loans rose by 1% to 11.32 trillion yuan [1] - Corporate bond balance reached 34.08 trillion yuan, reflecting a 5.6% year-on-year increase [1] - Government bonds saw a significant increase of 18.8% year-on-year, totaling 94.24 trillion yuan [1] - Non-financial corporate domestic stock financing amounted to 12.14 trillion yuan, up 4% year-on-year [1] Group 3: Monetary Aggregates - As of November 2025, the broad money supply (M2) was 336.99 trillion yuan, growing by 8% year-on-year [2] - The narrow money supply (M1) reached 112.89 trillion yuan, with a year-on-year increase of 4.9% [2] - The cash in circulation (M0) was 13.74 trillion yuan, reflecting a 10.6% year-on-year growth [2]