2025年我国社融规模增量超35万亿元！

Core Insights - The People's Bank of China reported that by the end of 2025, the total social financing scale reached 442.12 trillion yuan, marking an 8.3% year-on-year increase [1] - The balance of RMB loans to the real economy was 268.4 trillion yuan, with a year-on-year growth of 6.3% [1] - The balance of foreign currency loans to the real economy, converted to RMB, was 1.05 trillion yuan, showing an 18% decline year-on-year [1] Financing Structure - By the end of 2025, RMB loans to the real economy accounted for 60.7% of the total social financing scale, down 1.1 percentage points year-on-year [2] - The proportion of foreign currency loans to the real economy was 0.2%, down 0.1 percentage points year-on-year [2] - Government bonds represented 21.5% of the total financing, an increase of 1.6 percentage points year-on-year [2] Annual Financing Increment - The total increment in social financing for 2025 was 35.6 trillion yuan, which is 3.34 trillion yuan more than the previous year [3] - RMB loans to the real economy increased by 15.91 trillion yuan, which is a decrease of 1.13 trillion yuan compared to the previous year [3] - Net financing from government bonds reached 13.84 trillion yuan, an increase of 2.54 trillion yuan year-on-year [3] Monetary Supply - By the end of December 2025, the broad money supply (M2) was 340.29 trillion yuan, reflecting an 8.5% year-on-year growth [3] - The narrow money supply (M1) was 115.51 trillion yuan, with a year-on-year increase of 3.8% [3] - The cash in circulation (M0) was 14.13 trillion yuan, showing a year-on-year growth of 10.2% [3] Loan Distribution - In 2025, RMB loans increased by 16.27 trillion yuan, with household loans rising by 441.7 billion yuan [4] - Corporate loans increased by 15.47 trillion yuan, with short-term loans rising by 4.81 trillion yuan and medium to long-term loans by 8.82 trillion yuan [4] - Non-banking financial institution loans decreased by 110.3 billion yuan [4]