1. 2025年9月末，广义货币（M2）余额335.38万亿元，同比增长8.4%，比上年同期高1.5个百 分点；狭义货币（M1）余额113.15万亿元，同比增长7.2%。 2. 社会融资规模存量437.08万亿元，同比增长8.7%，比上年同期高0.7个百分点；前三季度， 社会融资规模增量累计为30.09万亿元，同比多增4.42万亿元。 3. 9月末，人民币各项贷款余额270.39万亿元，同比增长6.6%。 4. 9月末，本外币存款余额332.18万亿元，同比增长8.3%。月末人民币存款余额324.94万亿 元，同比增长8%。 来源丨中国人民银行 编辑丨江佩佩 见习编辑张嘉钰 沪指重回3900点，机器人多股爆发 国产万元电动自行车走红欧洲 13.5亿拿下价值超500亿金矿，盛屯矿业回应：不是捡漏 SFC 21君荐读 10月15日，央行发布前三季度金融统计数据报告。 重点数据梳理如下： 详见： 央行发布最新金融数据！ ...

业内专家表示，适度宽松的货币政策持续用力，降准降息等一揽子货币政策效果不断显现，人民币贷款保持较高增速，贷款利率低位运行，为实体经济发 展营造了适宜的货币金融环境。 中国人民银行10月15日发布的2025年前三季度金融统计数据报告显示，9月社会融资规模、广义货币供应量（M2）、人民币贷款余额增速都明显高于经济 增速，金融对实体经济的支持力度稳固。 需要注意的是，本次人民银行发布金融统计数据报告时，将原有的三篇新闻稿合并为一篇金融统计数据报告。同时，为保证各方面获取金融统计数据的全 面性，此次调整对原有三篇数据报告内容不做删减，仅对内容进行合并。 数据速览： 9月末，社会融资规模存量为437.08万亿元，同比增长8.7% 前三季度，人民币贷款增加14.75万亿元 前三季度，社会融资规模增量累计为30.09万亿元，比上年同期多4.42万亿元 9月末，广义货币（M2）余额335.38万亿元，同比增长8.4% 社融增速保持在较高水平 数据显示，9月末，M2和社会融资规模存量同比增速均保持在较高水平，持续为经济回升向好创造适宜的货币金融环境。 社融方面，初步统计，9月末社会融资规模存量为437.08万亿元，同比增长8. ...

据央视新闻消息，今天，中国人民银行发布2025年前三季度金融统计数据报告，内容如下： 一、社会融资规模存量同比增长8.7% 初步统计，2025年9月末社会融资规模存量为437.08万亿元，同比增长8.7%。其中，对实体经济发放的 人民币贷款余额为267.03万亿元，同比增长6.4%；对实体经济发放的外币贷款折合人民币余额为1.18万 亿元，同比下降18%；委托贷款余额为11.17万亿元，同比下降0.7%；信托贷款余额为4.5万亿元，同比 增长5.7%；未贴现的银行承兑汇票余额为2.44万亿元，同比增长4.4%；企业债券余额为33.5万亿元，同 比增长4.5%；政府债券余额为92.55万亿元，同比增长20.2%；非金融企业境内股票余额为12.04万亿 元，同比增长3.8%。 从结构看，9月末对实体经济发放的人民币贷款余额占同期社会融资规模存量的61.1%，同比低1.3个百 分点；对实体经济发放的外币贷款折合人民币余额占比0.3%，同比低0.1个百分点；委托贷款余额占比 2.6%，同比低0.2个百分点；信托贷款余额占比1%，同比低0.1个百分点；未贴现的银行承兑汇票余额占 比0.6%，同比持平；企业债券余额占比7 ...

Group 1 - The People's Bank of China reported that the total social financing scale exceeded 30 trillion yuan in the first three quarters of the year, reaching 30.09 trillion yuan, an increase of 4.42 trillion yuan compared to the same period last year [1] - The growth rates of social financing and broad money (M2) remained high, indicating that monetary finance continues to create a favorable environment for economic recovery [1] - The narrow money (M1) growth rate showed a significant rebound, reaching 7.2% by the end of September, reflecting increased business activity and consumer demand [1][6] Group 2 - The combination of government and corporate bonds contributed over 40% of the new social financing, with government bond net financing at 11.46 trillion yuan, an increase of 4.28 trillion yuan year-on-year [3] - The share of corporate bond financing also increased due to supportive policies and low issuance rates, with net financing reaching 1.57 trillion yuan [3] - The proportion of new social financing from RMB loans decreased to 48%, indicating a shift towards more diversified financing channels [3] Group 3 - Credit growth remained stable, with new RMB loans in September at approximately 1.29 trillion yuan, despite a decrease in growth rate to 6.6% [4] - The structure of loans continued to optimize, with inclusive small and micro loans growing by 12.2% year-on-year, and medium to long-term loans for manufacturing increasing by 8.2% [4] - The average interest rates for new loans remained low, with corporate loans at about 3.1%, down approximately 40 basis points year-on-year [4] Group 4 - The M1 growth rate's increase is attributed to the activation of both corporate and individual deposits, with a notable narrowing of the M1 and M2 "scissors difference" to 1.2 percentage points [6] - The concept of "deposit migration" reflects a reallocation of residents' assets based on changing return rates, with total resident deposits increasing by 12.73 trillion yuan in the first three quarters [7] - Experts suggest that the monetary policy will continue to support the real economy, with fiscal policies also actively contributing to investment [7]

社会融资规模存量同比增长8.7% 初步统计，2025年9月末社会融资规模存量为437.08万亿元，同比增长8.7%。其中， 中国9月新增社融3.53万亿元，新增人民币贷款1.29万亿元，新增人民币存款2.21万亿元，M2-M1剪刀差 为1.2个百分点，较上月大幅收窄。 15日，中国人民银行公布金融数据显示： "总体来看，M2和社会融资规模增速均保持在较高水平，持续为经济回升向好创造适宜的货币金融环 境。其中，广义货币（M2）余额335.38万亿元，同比增长8.4%，比上年同期高1.5个百分点，在上年同 期基数提高的背景下，仍保持较高增速。"业内专家对记者表示。 居民信贷方面，9月，个人消费贷贴息和服务业经营主体贷款贴息政策开始实施，利息成本下降推动消 费贷款需求进一步释放。同时，近期北上深等一线城市相继调整住房限购政策，带动房地产市场成交量 有所上行，9月30大中城市商品房成交面积同比增长约7%，个人住房贷款需求相应回暖。据深圳市住建 局统计，自9月5日深圳优化调整房地产调控政策以来，楼市活跃度明显提升，9月一二手住宅网签量同 比均实现两位数增长。某大型银行深圳分行反映，按照最新政策，首套及二套房利率基本持平 ...

Core Viewpoint - The People's Bank of China reported that the total social financing scale exceeded 30 trillion yuan in the first three quarters of the year, indicating a supportive monetary environment for economic recovery [1][6]. Financial Statistics - In the first three quarters, the total social financing increased by 4.42 trillion yuan compared to the same period last year, reaching 30.09 trillion yuan [1]. - RMB loans increased by 14.75 trillion yuan, while RMB deposits rose by 22.71 trillion yuan [1]. - As of the end of September, the year-on-year growth rate of social financing stock was 8.7%, up 0.7 percentage points from the previous year, and the M2 growth rate was 8.4%, up 1.5 percentage points [1]. Direct Financing Contribution - Government bonds and corporate bonds contributed over 40% of the new social financing, with net financing from government bonds at 11.46 trillion yuan, an increase of 4.28 trillion yuan year-on-year [9]. - Corporate bond financing reached 1.57 trillion yuan, supported by favorable policies and low issuance rates [9]. Loan Growth and Structure - The growth rate of new RMB loans decreased to 6.6% by the end of September, but adjusted for local special bond replacement, the growth rate was approximately 7.7% [11]. - The balance of inclusive small and micro loans was 36.09 trillion yuan, growing by 12.2% year-on-year, while medium to long-term loans in the manufacturing sector reached 15.02 trillion yuan, up 8.2% [11]. M1 and Economic Activity - M1 growth reached 7.2% by the end of September, significantly up from the low of 0.1% earlier in the year, indicating increased economic activity [14]. - The narrowing gap between M1 and M2 reflects improved corporate operations and a recovery in personal investment and consumption demand [14]. Monetary Policy Outlook - Experts suggest that the current macroeconomic environment is characterized by insufficient demand, low inflation, and low interest rates, with future financial impacts on the real economy primarily through interest rate channels [12]. - The fourth quarter is expected to see continued monetary policy support for the real economy, with fiscal policies also actively contributing to investment [15].

央视网消息：据中国人民银行网站消息，9月末，广义货币(M2)余额335.38万亿元，同比增长8.4%。狭 义货币(M1)余额113.15万亿元，同比增长7.2%。流通中货币(M0)余额13.58万亿元，同比增长11.5%。前 三季度净投放现金7619亿元。 ...

Monetary Statistics - As of the end of August, the broad money supply (M2) reached 331.98 trillion yuan, reflecting a year-on-year growth of 8.8% [1] - The narrow money supply (M1) stood at 111.23 trillion yuan, with a year-on-year increase of 6% [1] - The currency in circulation (M0) amounted to 13.34 trillion yuan, showing a year-on-year growth of 11.7% [1] - In the first eight months, a net cash injection of 520.8 billion yuan was recorded [1] Loan Statistics - By the end of August, the total loans in both domestic and foreign currencies reached 273.02 trillion yuan, marking a year-on-year increase of 6.6% [1] - The balance of RMB loans was 269.1 trillion yuan, with a year-on-year growth of 6.8% [1] - In the first eight months, RMB loans increased by 1.346 trillion yuan [1] - Household loans rose by 711 billion yuan, with short-term loans decreasing by 372.5 billion yuan and medium to long-term loans increasing by 1.08 trillion yuan [1] - Corporate loans increased by 1.222 trillion yuan, with short-term loans rising by 382 billion yuan and medium to long-term loans increasing by 738 billion yuan [1] - Foreign currency loans totaled 55.17 billion USD, showing a year-on-year decline of 7.1% [1] Deposit Statistics - As of the end of August, total deposits in both domestic and foreign currencies reached 329.96 trillion yuan, with a year-on-year growth of 8.8% [2] - The balance of RMB deposits was 322.73 trillion yuan, reflecting a year-on-year increase of 8.6% [2] - In the first eight months, RMB deposits increased by 2.05 trillion yuan [2] - Household deposits rose by 977 billion yuan, while non-financial corporate deposits increased by 610.6 billion yuan [2] - Foreign currency deposits amounted to 102 billion USD, with a year-on-year growth of 19.4% [2] Interbank Market Activity - In August, the total transaction volume in the interbank RMB market reached 202.68 trillion yuan, with an average daily transaction of 9.65 trillion yuan, a year-on-year increase of 16.8% [2] - The average weighted interest rate for interbank borrowing was 1.4%, lower than the previous month and the same period last year by 0.05 and 0.37 percentage points, respectively [2] - The average weighted interest rate for pledged repos was 1.41%, also lower than the previous month and the same period last year by 0.05 and 0.38 percentage points, respectively [2] Cross-Border RMB Settlement - In August, the cross-border RMB settlement amount under the current account was 1.47 trillion yuan, with goods trade, services trade, and other current items accounting for 1.11 trillion yuan and 0.36 trillion yuan, respectively [3] - The cross-border RMB settlement for direct investment was 0.61 trillion yuan, with outbound direct investment and foreign direct investment amounting to 0.24 trillion yuan and 0.37 trillion yuan, respectively [3]

Group 1 - The core viewpoint of the article highlights the overall stability and growth in China's financial metrics, with significant increases in social financing, broad money supply (M2), and RMB loans, indicating a favorable monetary environment for economic recovery [1][4]. - As of the end of August, the total social financing stock grew by 8.8% year-on-year, while M2 reached 331.98 trillion yuan, also reflecting an 8.8% increase [1][7]. - The increase in RMB loans was 6.8% year-on-year, with a total balance of 269.1 trillion yuan, showing a recovery in corporate and personal loan demand [2][3]. Group 2 - In August, RMB loans increased by 590 billion yuan, with a year-on-year decrease of 310 billion yuan but a month-on-month increase of 640 billion yuan, indicating a rebound in loan issuance [2][3]. - The rise in loan demand is attributed to improved economic conditions, seasonal consumption peaks, and supportive policies aimed at boosting consumer spending [2][3]. - Real estate policies in major cities like Beijing, Shanghai, and Shenzhen have been adjusted to stimulate housing demand, leading to a notable increase in mortgage loan inquiries and agreements [3][4]. Group 3 - The total social financing increment for the first eight months of 2025 was 26.56 trillion yuan, which is 4.66 trillion yuan more than the same period last year [4]. - In August, the new social financing was 2.57 trillion yuan, a year-on-year decrease of 463 billion yuan, primarily due to reduced RMB loans to the real economy and a high comparative base from the previous year [4][6]. - The issuance of special refinancing bonds has accelerated, providing significant funding support for addressing hidden local government debts, which is expected to enhance the efficiency of credit growth in the long term [5][6]. Group 4 - The broad money supply (M2) grew by 8.8% year-on-year, with a balance of 331.98 trillion yuan, while narrow money (M1) increased by 6% [7][8]. - The increase in M1 is influenced by a low comparative base from the previous year and the temporary boost from local government debt replacement [7][8]. - Experts predict that the People's Bank of China may implement further monetary easing measures, including potential interest rate cuts and reserve requirement ratio reductions, to support economic growth [8].

Core Insights - In August, the People's Bank of China reported that in the first eight months, RMB loans increased by 13.46 trillion yuan, and the total social financing scale increased by 26.56 trillion yuan, which is 4.66 trillion yuan more than the same period last year [1] Lending Data - Household loans increased by 711 billion yuan, with short-term loans decreasing by 372.5 billion yuan and medium to long-term loans increasing by 1.08 trillion yuan [1] - Corporate loans increased by 12.22 trillion yuan, with short-term loans increasing by 3.82 trillion yuan, medium to long-term loans increasing by 7.38 trillion yuan, and bill financing increasing by 877.8 billion yuan [1] - Non-bank financial institution loans increased by 122.7 billion yuan [1] Monetary Indicators - The growth rates of social financing stock and broad money (M2) both remained high at 8.8%, indicating strong financial support for the real economy [1] - As of the end of August, the "scissors difference" between M1 (narrow money) and M2 further narrowed to 2.8%, the lowest level since June 2021 [1]