央行上海总部：2025年上海社会融资规模同比多增1021亿元

Core Insights - The People's Bank of China (PBOC) Shanghai Headquarters reported a significant increase in social financing and direct financing in Shanghai for 2025, indicating a robust financial environment and support for the real economy [1][3]. Financing Environment - In 2025, Shanghai's social financing scale increased by 11,632 billion yuan, with a year-on-year increase of 1,021 billion yuan, effectively meeting the financing needs of the real economy [3]. - The structure of financing improved, with RMB loans to the real economy increasing by 6,589 billion yuan, accounting for 56.6% of the total financing increase. Direct financing rose by 3,419 billion yuan, making up 29.4% of the total, which is a 15 percentage point increase year-on-year [3]. Credit Growth and Structure - By the end of December, the balance of RMB and foreign currency loans in Shanghai reached 13.07 trillion yuan, a year-on-year growth of 6.5%, which is 0.3 percentage points higher than the national average [4]. - The total loan increase for the year was 7,967 billion yuan, with household loans growing by 8.1% and non-financial enterprise loans by 4.5% [4]. - The weighted average interest rate for newly issued corporate loans in December was 2.64%, down 38 basis points from the previous year, indicating a favorable borrowing environment [4]. Deposit Growth - The balance of RMB and foreign currency deposits in Shanghai reached 24.5 trillion yuan, growing by 11.3% year-on-year, which is 2.3 percentage points higher than the national average [5]. - The increase in deposits for the year was 2,490 billion yuan, with household deposits growing by 9.1% and non-financial enterprise deposits by 5.3% [5]. Cross-Border RMB Business - In 2025, the cross-border RMB payment volume in Shanghai reached 32.4 trillion yuan, a year-on-year increase of 9%, maintaining a 46% share of the national total [8]. - The RMB cross-border payments related to the real economy increased by 14%, indicating a growing willingness among businesses to use RMB for cross-border transactions [8]. - Key sectors such as shipping, foreign trade, and large commodity transactions saw significant growth in cross-border RMB settlements, with increases of 48%, 16%, and 2.6% respectively [8]. Future Outlook - In 2026, the PBOC Shanghai Headquarters plans to continue promoting offshore financial services and expand the pilot reforms for offshore trade finance in the Lingang New Area, further advancing RMB internationalization [9][10].