6月金融数据点评：关注实体经济融资需求向好的持续性

Group 1: Financial Data Overview - In June, new social financing (社融) reached 4.20 trillion yuan, exceeding the expected 3.71 trillion yuan by 13.2%[2] - The year-on-year increase in social financing was 900.8 billion yuan, marking a 27.3% rise compared to the same month last year[2] - New RMB loans in June amounted to 2.36 trillion yuan, an increase of 171 billion yuan year-on-year[2] Group 2: Monetary Supply and Trends - M2 growth was 8.3% year-on-year, up 0.4 percentage points from May[2] - M1 growth was 4.6%, showing a significant increase of 2.3 percentage points from the previous month[2] - M0 growth was 12.0%, slightly down by 0.1 percentage points from May[2] Group 3: Loan and Deposit Dynamics - New deposits totaled 3.21 trillion yuan, with household deposits contributing 2.47 trillion yuan, an increase of 330 billion yuan year-on-year[2] - New loans from financial institutions reached 2.24 trillion yuan, with corporate loans accounting for 1.77 trillion yuan, reflecting a positive trend[2] - The increase in short-term loans and bills was particularly notable, indicating a response to short-term export demands[2] Group 4: Economic Outlook and Risks - The report highlights the potential for continued monetary easing in the second half of the year due to external pressures from U.S. tariff policies[2] - Risks include a potential rise in global inflation and a rapid slowdown in the economies of Europe and the U.S.[2]