（原标题：澳门金管局：5月广义货币供应量回升 流通货币及活期存款分别上升0.1%及3.4%） 智通财经APP获悉，7月9日，澳门金管局发布2025年5月货币及金融统计。2025年5月的广义货币供应量 回升。与此同时，居民存款按月增加，居民贷款则录得跌幅。流通货币及活期存款分别上升0.1%及 3.4%，M1因而较上月增加2.4%。与此同时，准货币负债上升1.1%，因此包括M1及准货币负债的广义 货币供应量M2遂按月回升1.2%至8,157亿澳门元。若与2024年同期比较，M1及M2分别上升11.4%及 7.9%。按币种分析，澳门元、港元、人民币及美元在M2的比重分别为32.3%、46.4%、6.8%及12.3%。 营运比率 截至2025年5月底，银行的本地居民贷存比率由4月底的50.9%下跌至49.3%，包括非居民部分的总体贷 存比率由77.5%下跌至73.0%。以一个月及三个月为期计算的流动资产对负债比率，分别处于65.7%及 57.9%的水平。此外，主要由于总贷款按月下跌，不良贷款比率上升至5.7%。 居民存款按月增加1.3%至7,947亿澳门元，非居民存款上升0.4%至3,510亿澳门元。与此同时，公共部 ...

Group 1 - The core viewpoint of the articles indicates that China's financial metrics are showing reasonable growth, supporting the real economy effectively, with social financing scale increasing by 8.7% year-on-year as of the end of May [1] - The narrow money supply (M_1) grew by 2.3% year-on-year, reflecting a significant acceleration in growth, which suggests that recent financial support measures have positively impacted market confidence and economic activities [1][2] - In May, the incremental social financing scale reached 2.29 trillion yuan, which is 224.7 billion yuan more than the previous year, driven mainly by government and corporate bond issuances [2] Group 2 - The issuance of special refinancing bonds to replace hidden debts has been significant, with the net financing scale exceeding 3.8 trillion yuan in the first quarter, marking an increase of 2.5 trillion yuan compared to the same period last year [2] - The average interest rate for newly issued corporate loans in May was approximately 3.2%, which is about 50 basis points lower than the same period last year, indicating a favorable borrowing environment for businesses [2] - The growth in personal loans is also indicative of increased economic activity, with a rise in mortgage loans due to a recovering real estate market and a boost in consumer loans driven by promotional activities [3] Group 3 - The external environment has marginally influenced the credit situation, with foreign trade enterprises responding to tariff impacts by diversifying, leading to increased credit demand [3] - The financial total growth is expected to remain stable, supported by proactive fiscal policies and effective financial measures that have bolstered market confidence [4] - The social financing scale, which encompasses direct financing, is seen as a more comprehensive measure of financial support compared to traditional loan metrics, reflecting the evolving financing landscape [3]

社会融资规模增速有所抬升政府债券发行加快成主因 央行数据显示，2025年前四个月社会融资规模增量累计为16.34万亿元，比上年同期多3.61万亿元。其 中，今年前四个月，对实体经济发放的人民币贷款增加9.78万亿元，同比多增3397亿元。4月当月，社 会融资规模新增1.16万亿元，比去年同期多约1.36万亿元。 "政府债券发行加快是最主要的拉动因素。"业内专家分析，今年政府债券发行明显加快，1-4月政府债 券净融资超过5万亿元，同比多约3.6万亿元。其中，4月启动超长期特别国债、注资特别国债发行，加 上地方政府特殊再融资专项债发行持续推进，当月净融资约9700亿元，同比多约1.1万亿元，上拉社融 增速大约0.3个百分点。 5月14日，央行发布数据显示，4月末，社会融资规模同比增长8.7%，广义货币供应量（M2）同比增长 8%，增速均较上月明显加快，人民币贷款余额同比增长7.2%，还原地方债务置换影响后仍超过8%。 业内人士指出，总体来看，当前金融总量增长既"稳"又"实"，体现了适度宽松的货币政策取向。 据了解，今年财政支持力度大、发债节奏快，支持扩内需、宽信用，对社融形成有力支撑。今年财政预 算赤字率提高至4 ...