Core Insights - The Inclusive Finance Prosperity Index reached 49.48 points in December 2025, an increase of 0.12 points from November and 0.61 points higher than the same period last year [1] Financing Conditions - The financing prosperity index stood at 54.82 points in December, a slight decrease of 0.01 points from November, with continued growth in credit scale and historically low financing costs [2] - In 2025, new loans totaled 16.27 trillion yuan, reflecting effective monetary policy and sustained demand for credit from enterprises and households [2] - New loans to enterprises amounted to 15.47 trillion yuan, with significant growth in key sectors such as technology, green finance, inclusive finance, elderly care, and digital economy [2] Operational Conditions - The operational prosperity index rose to 48.44 points in December, up 0.16 points from November, indicating improved market activity and increased orders for small and micro enterprises [3] - The Consumer Price Index (CPI) increased by 0.8% year-on-year in December, positively impacting corporate profit expectations and boosting market confidence [3] - The resilience of small and micro enterprises is gradually strengthening due to ongoing policy benefits and recovering market dynamics [3] Industry Performance - Among nine major industries, six showed improvement while three declined in December, with strong demand for agricultural products and logistics boosting the agricultural and transportation sectors [4] - Seasonal increases in demand for community services, maintenance, and housekeeping have enhanced the vitality of the social services sector [4] - The real estate sector also saw some improvement, while the industrial, construction, and wholesale/retail sectors experienced declines [4] Regional Performance - The operational prosperity index across seven regions showed three increases and four declines, with Northeast, South China, and Southwest regions improving, while North China, East China, Central China, and Northwest regions saw declines [5] - The Inclusive Finance Prosperity Index is jointly launched by several financial institutions and reflects the financing and development conditions of small and micro enterprises through both objective and subjective data [5]

Core Insights - The Inclusive Finance Prosperity Index reached 49.48 points in December 2025, an increase of 0.12 points from November and 0.61 points higher than the same period last year, indicating a stable financial support for small and micro enterprises [1] Financing Dimension - The financing prosperity index stood at 54.82 points in December, a slight decrease of 0.01 points from November, with continuous growth in credit scale and historically low financing costs [2] - In 2025, new loans totaled 16.27 trillion yuan, with corporate loans accounting for 15.47 trillion yuan, reflecting effective credit demand from enterprises and residents [2] Operating Dimension - The operating prosperity index increased to 48.44 points in December, up by 0.16 points from November, with manufacturing and non-manufacturing PMIs indicating expansion [3] - The consumer price index rose by 0.8% year-on-year in December, improving corporate profit expectations and boosting market confidence [3] Industry Prosperity - Among nine major industries, six showed an increase in operating prosperity, particularly in agriculture and transportation due to seasonal demand, while three industries experienced a decline [6] - The real estate sector showed some improvement, while industrial, construction, and wholesale retail sectors saw a decrease in operating prosperity [6] Regional Prosperity - Among seven regions, three experienced an increase in operating prosperity, specifically Northeast, South China, and Southwest regions, while four regions saw a decline [7] - The indices for North China, East China, Central China, and Northwest regions were lower, indicating regional disparities in economic performance [7]