刚刚，央行发布重磅数据！

Core Insights - The People's Bank of China reported that by the end of January 2026, the total social financing scale was 449.11 trillion yuan, reflecting a year-on-year growth of 8.2% [1] - The balance of RMB loans to the real economy was 273.3 trillion yuan, with a year-on-year increase of 6.1% [1] - The balance of foreign currency loans to the real economy, converted to RMB, was 1.09 trillion yuan, showing a year-on-year decline of 12.1% [1] Financing Structure - By the end of January, RMB loans accounted for 60.9% of the total social financing scale, down 1.2 percentage points year-on-year [2] - The proportion of foreign currency loans was 0.2%, down 0.1 percentage points year-on-year [2] - The balance of government bonds increased by 17.3% year-on-year, reaching 95.9 trillion yuan [1][2] Financing Increment - The increment in social financing for January was 7.22 trillion yuan, which is 166.2 billion yuan more than the same period last year [2] - RMB loans increased by 4.9 trillion yuan, which is a decrease of 317.8 billion yuan compared to the previous year [2] - Government bonds net financing reached 9.764 trillion yuan, an increase of 2.831 trillion yuan year-on-year [2] Monetary Supply - The broad money supply (M2) was 347.19 trillion yuan, with a year-on-year growth of 9% [3] - The narrow money supply (M1) was 117.97 trillion yuan, reflecting a year-on-year increase of 4.9% [3] - The cash in circulation (M0) was 14.61 trillion yuan, with a year-on-year growth of 2.7% [3] Loan Balances - By the end of January, the total loan balance in both domestic and foreign currencies was 280.59 trillion yuan, with a year-on-year growth of 6% [4] - RMB loans increased by 4.71 trillion yuan in January, with household loans rising by 456.5 billion yuan [4] - Foreign currency loans reached 570.1 billion USD, showing a year-on-year increase of 6.6% [5]