2月金融数据快报

Group 1: Report Core View - In February, the new social financing scale was 2.38 trillion yuan, a year-on-year increase of 14.61 billion yuan. The year-on-year growth rate of social financing stock was 8.2%, the same as last month and the same as the same period last year. The year-on-year increase in new social financing in February was mainly supported by corporate credit. Government bond financing increased by 140.36 billion yuan, a decrease of 29.03 billion yuan compared with the same period last year [3]. - In terms of short - and long - term structure, in the new credit in February, short - term loans and bill financing increased by 9.57 billion yuan. Bill financing decreased by 20.43 billion yuan year - on - year, indicating a decline in the demand for "bill padding". New short - term corporate loans were 60 billion yuan, a year - on - year increase of 27 billion yuan, and new long - term corporate loans were 89 billion yuan, a year - on - year increase of 35 billion yuan. Both short - term and long - term loans in the household sector showed a decreasing trend, indicating insufficient consumer and leverage - adding momentum among residents [3]. - In terms of currency, at the end of February, the balance of broad money (M2) was 349.22 trillion yuan, a year - on - year increase of 9.0%. The balance of narrow money (M1) was 115.93 trillion yuan, a year - on - year increase of 5.9%. The balance of currency in circulation (M0) was 15.14 trillion yuan, a year - on - year increase of 14.1%. The M1 - M2 scissors gap narrowed slightly from - 6.9% in the same period last year to - 3.1%, narrowing by 1 percentage point compared with last month, reflecting an increase in capital activity [3]. Group 2: Data Comparison | Indicator | February 2026 | January 2026 | December 2025 | | --- | --- | --- | --- | | Year - on - year growth rate of social financing stock (%) | 8.2 | 8.2 | 8.3 | | Year - on - year growth rate of RMB loan balance | 6.1 | 6.1 | 6.3 | | Social financing increment (billion yuan) | 237.92 | 722.08 | 220.75 | | RMB loans | 84.84 | 490.16 | 98.04 | | Foreign currency loans | - 0.35 | 4.68 | - 6.75 | | Entrusted loans | - 1.81 | - 1.92 | 3.08 | | Trust loans | 3.09 | - 0.04 | 6.79 | | Undiscounted bills | - 17.55 | 62.93 | - 14.92 | | Corporate bonds | 15.21 | 50.33 | 15.41 | | Government bonds | 140.36 | 97.64 | 68.33 | | Corporate stocks | 4.54 | 2.91 | 5.59 | | M2 (%) | 9.0 | 9.0 | 8.5 | | M1 (%) | 5.9 | 4.9 | 3.8 | | M0 (%) | 14.1 | 2.7 | 10.2 | [4]