央行上海总部2025年成绩单：社融规模连续两年增量超万亿，跨境收付全国第一

Core Insights - The People's Bank of China (PBOC) Shanghai Headquarters reported that in 2025, Shanghai's social financing scale increased by 11,632 billion yuan, meeting the financing needs of the real economy [3][6] - The structure of financing improved, with direct financing's proportion rising, and the overall financing cost continued to decline [4][5] Financing and Credit - In 2025, the total social financing scale in Shanghai increased by 11,632 billion yuan, which is 1,021 billion yuan more than the previous year, marking a continuous increase of over 10,000 billion yuan for two consecutive years [3] - The RMB loans to the real economy increased by 6,589 billion yuan, accounting for 56.6% of the financing increment, while direct financing rose by 3,419 billion yuan, representing 29.4% of the total [3] - By the end of December, the balance of loans in Shanghai reached 13.07 trillion yuan, with a year-on-year growth of 6.5%, which is 0.3 percentage points higher than the national average [3] Deposit Trends - By the end of December, the total balance of deposits in Shanghai was 24.5 trillion yuan, reflecting a year-on-year growth of 11.3%, surpassing the national average by 2.3 percentage points [5] - The growth rate of demand deposits for households and non-financial enterprises significantly increased, while the growth rates for time deposits and other deposits saw a decline [5] Cross-Border Financial Activities - In 2025, Shanghai's foreign-related economic activities remained active, with total foreign-related receipts and payments reaching 5.66 trillion USD, accounting for over 36% of the national total, and a year-on-year increase of 14.3% [6][7] - The cross-border RMB business in Shanghai showed a growth trend, with the total amount reaching 32.4 trillion yuan, a year-on-year increase of 9%, maintaining the highest share in the country [7] Policy Support and Future Outlook - The PBOC announced eight measures to support Shanghai's financial development, including the optimization of free trade account functions, which successfully launched with significant participation from banks and enterprises [8] - The PBOC Shanghai Headquarters plans to enhance cross-border financial services and improve the efficiency of RMB fund payments to better support the real economy and stabilize foreign trade and investment [8]