如何看12月金融数据？

Group 1: Financial Data Overview - December financial data shows overall improvement, supported by large-scale debt issuance and better-than-expected social financing data[3] - New social financing in December reached 28,507 billion yuan, significantly higher than the previous value of 23,288 billion yuan, and exceeded the consensus expectation of 21,147 billion yuan, with a year-on-year increase of 9,181 billion yuan[4] - The year-on-year growth rate of social financing stock is 8%, an increase of 0.2 percentage points from the previous value[4] Group 2: Credit and Loans - New RMB loans in December amounted to 9,900 billion yuan, up from 5,800 billion yuan in the previous month, but still 1,800 billion yuan lower year-on-year[5] - The structure of loans shows a continued increase in residential medium and long-term loans, which aligns with December's property sales data, where the transaction area in 30 major cities increased by 14.43% year-on-year[24] - Corporate loans decreased by 4,016 billion yuan year-on-year, with a notable decline in medium and long-term loans, reflecting ongoing cash flow pressures on enterprises[25] Group 3: Deposits and Monetary Supply - In December, new RMB deposits decreased by 14,000 billion yuan, a year-on-year decline of 14,868 billion yuan, with significant contributions from both resident and non-financial enterprise deposits[32] - M1 decreased by 1.4% year-on-year, while M2 increased by 7.3%, indicating a narrowing of the M1-M2 scissors difference to -8.7% from -10.8%[32] - The improvement in M1 and M2 growth rates suggests enhanced liquidity in the financial system, driven by increased resident and enterprise deposits[32]