一周深沪北两融余额变动 | 日期 | 两融余额 | 两融余额环比增 | 融资余额 | 融资余额环比增 | 融券余额 | 融券余额环比增 | | --- | --- | --- | --- | --- | --- | --- | | | （亿元） | 减（亿元） | （亿元） | 减（亿元） | （亿元） | 减（亿元） | | 2025.11.21 | 24614.50 | -302.53 | 24451.78 | -292.08 | 162.72 | -10.45 | | 2025.11.20 | 24917.03 | -62.37 | 24743.85 | -59.39 | 173.17 | -2.98 | | 2025.11.19 | 24979.40 | -47.70 | 24803.25 | -45.76 | 176.15 | -1.94 | | 2025.11.18 | 25027.10 | 23.76 | 24849.01 | 25.81 | 178.09 | -2.05 | | 2025.11.17 | 25003.34 | 76.30 | 24823.20 | 76.21 | 180.14 ...

Core Insights - The total margin financing and securities lending balance in the Shanghai, Shenzhen, and Beijing stock exchanges decreased to 24,927.04 billion yuan as of November 14, reflecting a weekly decline of 9.89 billion yuan [1] Margin Financing Summary - The financing balance reached 24,746.99 billion yuan, down by 8.29 billion yuan week-on-week [1] - The securities lending balance was 180.05 billion yuan, decreasing by 1.61 billion yuan over the same period [1] ETF Trading Summary - The latest ETF margin financing and securities lending balance was 1,184.23 billion yuan, which increased by 3.14 billion yuan week-on-week [1] - The ETF financing balance rose to 1,101.89 billion yuan, marking an increase of 4.65 billion yuan [1] - The ETF securities lending balance decreased to 82.34 billion yuan, down by 1.51 billion yuan [1] Market Breakdown - In the Shanghai market, the margin balance was 12,654.61 billion yuan, a decrease of 37.10 billion yuan [1] - The Shenzhen market saw an increase in margin balance to 12,194.06 billion yuan, up by 28.38 billion yuan [1] - The Beijing Stock Exchange's margin balance was 78.37 billion yuan, down by 1.17 billion yuan [1]

Core Viewpoint - The margin trading balance in the Shanghai, Shenzhen, and Beijing stock exchanges has increased for the third consecutive week, reaching 24,936.93 billion yuan as of November 7, with a weekly increase of 72.91 billion yuan [1] Summary by Category Margin Trading Balance - The total margin trading balance is 24,936.93 billion yuan, up by 72.91 billion yuan from the previous week, marking the third consecutive week of increase [1] - The financing balance stands at 24,755.28 billion yuan, with a weekly increase of 66.08 billion yuan, also the third consecutive week of growth [1] - The margin trading balance for securities lending is 181.65 billion yuan, increasing by 6.84 billion yuan over the week [1] ETF Trading - The latest market ETF margin trading balance is 1,181.09 billion yuan, which has decreased by 8.23 billion yuan over the week [1] - The ETF financing balance is 1,097.25 billion yuan, down by 12.60 billion yuan, while the ETF securities lending balance is 83.84 billion yuan, up by 4.37 billion yuan [1] Market Breakdown - In the Shanghai market, the margin trading balance is 12,691.71 billion yuan, increasing by 74.28 billion yuan, with the financing balance up by 68.25 billion yuan and the securities lending balance up by 6.03 billion yuan [1] - In the Shenzhen market, the margin trading balance is 12,165.68 billion yuan, decreasing by 1.59 billion yuan, with the financing balance down by 2.40 billion yuan, while the securities lending balance increased by 810.3 million yuan [1] - The Beijing Stock Exchange has a margin trading balance of 79.54 billion yuan, increasing by 22.52 million yuan, with the financing balance up by 23.03 million yuan and the securities lending balance down by 511.4 thousand yuan [1]

Core Viewpoint - The total margin financing and securities lending balance in the Shanghai, Shenzhen, and Beijing stock exchanges reached 24,864.02 billion yuan as of October 31, marking an increase of 292.11 billion yuan compared to the previous week [1] Summary by Category Overall Margin Financing and Securities Lending - The total margin financing balance is 24,689.20 billion yuan, with an increase of 291.02 billion yuan over the week [1] - The total securities lending balance is 174.82 billion yuan, with a weekly increase of 1.10 million yuan [1] ETF Trading - The latest market ETF margin financing and securities lending balance is 1,189.32 billion yuan, increasing by 10.11 billion yuan over the week [1] - The ETF financing balance is 1,109.85 billion yuan, with a weekly increase of 11.13 billion yuan [1] - The ETF securities lending balance is 79.47 billion yuan, decreasing by 1.02 billion yuan over the week [1] Market Breakdown - The Shanghai stock exchange margin balance is 12,617.43 billion yuan, increasing by 148.49 billion yuan over the week [1] - The Shenzhen stock exchange margin balance is 12,167.27 billion yuan, with a weekly increase of 139.52 billion yuan [1] - The Beijing stock exchange margin balance is 79.32 billion yuan, increasing by 4.11 billion yuan over the week [1]

Core Points - The A-share market's margin trading balance has reached a historic high, surpassing 2.5 trillion yuan for the first time as of October 29, 2025, reaching 25,066 billion yuan [1][3][4] - The growth in margin trading balance has been significant since August 2025, with multiple key thresholds crossed, indicating a strong recovery in market activity [3][4] - The financing balance, a major contributor to the margin trading balance, also hit a record high of approximately 24,886 billion yuan [4][6] Summary by Category Margin Trading Balance - As of October 29, 2025, the margin trading balance reached 25,066 billion yuan, marking a single-day increase of about 119 billion yuan and continuing a growth trend for the fourth consecutive trading day [3][4] - The margin trading balance has increased by over 6,000 billion yuan since the beginning of 2025, representing a growth of more than 30% compared to the end of 2024 [3] Financing and Margin Trading Activity - The financing balance reached a historic high of approximately 24,886 billion yuan, with a single-day increase of about 116 billion yuan [4] - Daily margin trading volume has remained high, exceeding 2,000 billion yuan for four consecutive trading days, and has surpassed 1,000 billion yuan for 86 consecutive trading days since June 24, 2025 [4] Market Proportions - The margin trading balance accounted for 2.53% of the A-share market's circulating market value as of October 29, 2025, showing slight growth compared to previous months but still below historical peaks [5] - The proportion of margin trading volume to total A-share trading volume has remained relatively stable, at 12.30% on October 29, 2025, compared to over 20% during the peak in 2015 [4][5] Short Selling Activity - The short selling balance has also seen a slight increase, surpassing 18 billion yuan for the first time this year, reaching 18.07 billion yuan, with a cumulative increase of over 7 billion yuan [6][7] - Despite the growth in short selling balance, it remains significantly lower than historical highs, which were around 173.9 billion yuan in September 2021 [7]

Core Insights - The total margin financing and securities lending balance for the Shanghai, Shenzhen, and Beijing stock exchanges decreased to 24,293.85 billion yuan as of October 17, reflecting a reduction of 123.92 billion yuan compared to the previous week [1] Margin Financing Summary - The financing balance stands at 24,128.35 billion yuan, which is a decrease of 128.24 billion yuan week-on-week [1] - The securities lending balance increased to 165.50 billion yuan, with a week-on-week increase of 4.33 million yuan [1] ETF Trading Summary - The latest market ETF margin financing and securities lending balance is 1,159.22 billion yuan, showing an increase of 22.19 billion yuan over the week [1] - The ETF financing balance is 1,082.61 billion yuan, up by 20.07 billion yuan week-on-week, while the ETF securities lending balance rose to 76.60 billion yuan, increasing by 2.12 million yuan [1] Market Breakdown - In the Shanghai market, the margin balance is 12,355.00 billion yuan, down by 62.59 billion yuan, with a financing balance decrease of 66.37 billion yuan and a securities lending balance increase of 3.78 million yuan [1] - The Shenzhen market's margin balance is 11,864.32 billion yuan, decreasing by 61.12 billion yuan, with a financing balance drop of 61.67 billion yuan and a securities lending balance increase of 5.48832 million yuan [1] - The Beijing Stock Exchange's margin balance is 74.53 billion yuan, down by 2.04109 million yuan, with a financing balance decrease of 2.04109 million yuan and a securities lending balance increase of 67.00 yuan [1]

Core Points - The total margin balance of the Shanghai, Shenzhen, and Beijing stock exchanges reached 23,515.70 billion yuan as of September 12, marking an increase of 645.15 billion yuan compared to the previous week, representing the 12th consecutive week of growth [1] - The financing balance stood at 23,349.63 billion yuan, with a weekly increase of 636.57 billion yuan, also the 12th consecutive week of increase [1] - The securities lending balance was 166.07 billion yuan, with a weekly increase of 8.59 billion yuan [1] Margin Trading Overview - The latest market ETF margin balance was 1,117.05 billion yuan, increasing by 15.08 billion yuan over the week [1] - The ETF financing balance was 1,039.43 billion yuan, with a weekly increase of 9.18 billion yuan [1] - The ETF securities lending balance reached 77.62 billion yuan, increasing by 5.90 billion yuan [1] Market Breakdown - The Shanghai stock exchange's margin balance was 11,954.33 billion yuan, with a weekly increase of 289.49 billion yuan [1] - The Shenzhen stock exchange's margin balance was 11,482.71 billion yuan, increasing by 352.12 billion yuan over the week [1] - The Beijing stock exchange's margin balance was 78.66 billion yuan, with a weekly increase of 3.54 billion yuan [1]

Core Insights - The total margin balance of the Shanghai, Shenzhen, and Beijing stock exchanges reached 22,613.49 billion yuan as of August 29, marking an increase of 1,062.81 billion yuan compared to the previous week, representing the 10th consecutive week of growth and the highest weekly increase since October 18, 2024 [1] Margin Balance Summary - The financing balance stood at 22,454.72 billion yuan, with a weekly increase of 1,053.46 billion yuan, also the highest since October 18, 2024 [1] - The securities lending balance was 158.77 billion yuan, increasing by 9.35 billion yuan over the week [1] ETF Trading Summary - The latest margin balance for ETFs was 1,087.00 billion yuan, reflecting a weekly increase of 60.88 billion yuan [1] - The ETF financing balance was 1,012.47 billion yuan, with a weekly increase of 53.90 billion yuan, while the ETF securities lending balance reached 74.53 billion yuan, increasing by 6.98 billion yuan [1] Market Breakdown - The margin balance for the Shanghai market was 11,519.36 billion yuan, increasing by 570.99 billion yuan, with the financing balance rising by 565.04 billion yuan and the securities lending balance increasing by 5.95 billion yuan [1] - The Shenzhen market's margin balance was 11,020.41 billion yuan, up by 491.48 billion yuan, with the financing balance increasing by 488.08 billion yuan and the securities lending balance rising by 3.41 billion yuan [1] - The Beijing Stock Exchange's margin balance was 73.72 billion yuan, with a weekly increase of 34.36 million yuan, where the financing balance increased by 34.36 million yuan and the securities lending balance decreased by 0.19 million yuan [1]

Core Viewpoint - The margin trading balance in the A-share market has surpassed 2.2 trillion yuan for the first time in 10 years, indicating a significant increase in market activity and investor engagement [1][2]. Group 1: Margin Trading Balance Growth - As of August 26, 2025, the margin trading balance reached 22,076 billion yuan, marking a daily increase of approximately 193 billion yuan [2][3]. - The margin trading balance has consistently broken through key thresholds in August, surpassing 20 trillion yuan on August 5, 21 trillion yuan on August 18, and finally reaching 22 trillion yuan [2][3]. - From early August to August 26, there were 15 trading days out of 18 where the margin trading balance increased, totaling a growth of over 220 billion yuan during this period [2]. Group 2: Financing Balance Contribution - The growth in the margin trading balance is primarily driven by an increase in the financing balance, which reached approximately 21,922 billion yuan, a near 10-year high [3]. - On August 26, 2025, the daily margin trading volume was 3,037 billion yuan, exceeding 3,000 billion yuan for the second consecutive day [3]. - Since August 13, 2025, the margin trading volume has surpassed 2,000 billion yuan for 10 consecutive trading days, contrasting sharply with a low of under 500 billion yuan in September of the previous year [3]. Group 3: Market Proportions - The margin trading volume accounted for 11.21% of the total A-share trading volume on August 26, 2025, maintaining a level above 10% for 12 consecutive trading days [3]. - The margin trading balance represented 2.34% of the A-share circulating market value as of August 26, 2025, remaining stable compared to early August levels [3]. Group 4: Securities Lending Balance - Despite the significant growth in margin trading and financing balances, the securities lending balance remains low at approximately 155 billion yuan as of August 26, 2025, with a cumulative increase of about 17 billion yuan in August [5]. - Historical data indicates that the securities lending balance once exceeded 1 trillion yuan, peaking at approximately 1,739 billion yuan on September 10, 2021 [5].

Core Viewpoint - The margin trading balance in the A-share market has reached 2.2 trillion yuan, marking a significant recovery after 10 years, with a notable increase in trading activity and financing balance [2][4]. Group 1: Margin Trading Balance - As of August 26, 2025, the margin trading balance reached 22,076 billion yuan, a single-day increase of approximately 193 billion yuan [2][4]. - The margin trading balance has surpassed key thresholds of 20 trillion yuan and 21 trillion yuan in August 2025, indicating a strong upward trend [4]. - The margin trading balance is now less than 70 billion yuan away from its historical peak [2]. Group 2: Trading Activity - The A-share market has seen a consistent increase in margin trading activity, with 15 out of 18 trading days in August 2025 showing growth in the margin trading balance [4]. - The daily margin trading volume reached 3,037 billion yuan on August 26, 2025, maintaining a high level of trading activity [5]. - The margin trading volume has exceeded 2,000 billion yuan for 10 consecutive trading days since August 13, 2025, contrasting sharply with the previous year's low of under 500 billion yuan [5]. Group 3: Financing and Short Selling - The financing balance has also reached approximately 21,922 billion yuan, setting a new high in nearly a decade [5]. - The proportion of margin trading volume to total A-share trading volume was 11.21% on August 26, 2025, remaining stable above 10% for 12 consecutive trading days [5]. - The short selling balance remains low at around 155 billion yuan, with a cumulative increase of about 17 billion yuan in August 2025 [7].