新华鲜报｜平稳开局！开年首月社会融资规模增量达7.22万亿元

Core Viewpoint - The financial data for January 2026 indicates a strong start to the year for China's economy, supported by a significant increase in social financing and a favorable monetary policy environment [1][3][4]. Group 1: Financial Performance - In January 2026, the social financing scale increased by 7.22 trillion yuan, setting a historical record for the same period [1]. - The balance of RMB loans grew by 6.1% year-on-year, while the stock of social financing increased by 8.2% [3]. - The broad money supply (M2) reached 347.19 trillion yuan, with a year-on-year growth rate of 9%, reflecting a moderately loose monetary policy [4]. Group 2: Loan Dynamics - In January, RMB loans increased by 4.71 trillion yuan, with corporate loans accounting for 4.45 trillion yuan, indicating strong demand from enterprises [4]. - The balance of inclusive small and micro loans reached 37.16 trillion yuan, growing by 11.6% year-on-year, while medium to long-term loans in the service sector (excluding real estate) reached 60.03 trillion yuan, up by 9.2% [4]. Group 3: Consumer Activity - The consumer market showed robust activity, with personal consumption loans supported by government policies and increased demand for goods and services [4]. - In January, household loans increased by 456.5 billion yuan, with short-term loans rising by 109.7 billion yuan [4]. Group 4: Financing Costs - The average interest rate for newly issued corporate loans was approximately 3.2%, down by about 20 basis points year-on-year, while the rate for personal housing loans remained stable at 3.1% [7]. - The low financing costs reflect a relatively abundant credit supply and the effectiveness of financial support to the real economy [7]. Group 5: Policy Support - The People's Bank of China has implemented various monetary policies to support the real economy, including structural interest rate cuts and the development of technology, green, and inclusive finance [3][7]. - The ongoing support from a moderately loose monetary policy is expected to enhance financial services and stimulate economic growth [7].