12月金融数据点评：外汇占款企稳支持货币扩张

Loan and Credit Trends - In December, new loans amounted to 910 billion yuan, down from 990 billion yuan in the same month last year[1] - Household loans decreased by 91.6 billion yuan, significantly lower than the 350 billion yuan increase in the same month last year[1] - Corporate loans increased by 1.07 trillion yuan, surpassing the 490 billion yuan increase from the previous year[1] Social Financing and Government Support - New social financing in December was approximately 2.2 trillion yuan, lower than the 2.85 trillion yuan in the same month last year[2] - The stock of social financing grew by 8.3% year-on-year, a slight decrease from 8.5% in November[2] - Net financing from government bonds was 683.3 billion yuan, significantly lower than the 1.76 trillion yuan increase in the same month last year[2] Monetary Policy and Currency Trends - M2 money supply grew by 8.5% year-on-year in December, an increase from 8% in the previous month[2] - M1 money supply growth slowed to 3.8%, down from 4.9% in the previous month[2] - Foreign exchange reserves decreased by 2.7 billion yuan, but the decline was notably smaller than in previous months[2] Risk Factors - Potential risks include geopolitical tensions, a declining real estate market, and insufficient domestic policy support[4]