Core Viewpoint - Hainan Free Trade Port officially commenced full island closure operations on December 18, 2025, supported by the People's Bank of China (PBOC) through the establishment of financial policies and systems tailored to the port's needs [1] Financial Preparations - All three financial preparations for the closure have been completed, including the enhancement of cross-border capital flow management systems and the launch of the multi-functional free trade account (EF account) [1] - By the end of October 2025, 11 banks in Hainan had launched EF accounts, with transaction volumes exceeding 250 billion RMB, and funds were transferred with entities in 80 countries and regions [1] - The cross-border capital flow monitoring and early warning mechanism has been improved, enhancing the ability to prevent cross-border financial risks [1] Financial Innovation and Cross-Border Transactions - The PBOC is advancing financial innovation policies aimed at achieving "free and convenient cross-border capital flow," resulting in a continuous increase in cross-border revenue and expenditure [1] - From January to November 2025, Hainan's cross-border revenue and expenditure reached 101.61 billion USD, with an average annual growth rate of 55% since 2020 [2] Cross-Border Trade and Investment - Hainan has seen significant progress in high-level openness for cross-border trade and investment, with a total of 43.05 billion USD in cross-border trade facilitation pilot business and 2.8 billion USD in cross-border investment and financing pilot business since the policy's implementation [2] - By the end of October 2025, 144 qualified foreign limited partners (QFLP) equity investment funds had been established in Hainan, with a cumulative cross-border inflow of 2.275 billion USD [2] Cross-Border RMB Settlement - The PBOC is focusing on expanding the use of cross-border RMB, with the total RMB cross-border payment and receipt amount in Hainan reaching 484.5 billion RMB from January to November 2025, reflecting a year-on-year growth of 7.8% [2] Asset Management Pilot Programs - As of the end of October 2025, the PBOC's Hainan branch received applications from four pilot issuing institutions, with a total initial application scale of 5 billion RMB [3] - Two private placement pilot products were successfully subscribed by overseas investors, completing the fund transfer process [3]

更多消息，持续更新中 一、社会融资规模存量同比增长8.5% 初步统计，2025年11月末社会融资规模存量为440.07万亿元，同比增长8.5%。其中，对实体经济发放的 人民币贷款余额为267.42万亿元，同比增长6.3%；对实体经济发放的外币贷款折合人民币余额为1.13万 亿元，同比下降16.5%；委托贷款余额为11.32万亿元，同比增长1%；信托贷款余额为4.6万亿元，同比 增长7.4%；未贴现的银行承兑汇票余额为2.3万亿元，同比增长0.4%；企业债券余额为34.08万亿元，同 比增长5.6%；政府债券余额为94.24万亿元，同比增长18.8%；非金融企业境内股票余额为12.14万亿 元，同比增长4%。 从结构看，11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60.8%，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%，同比持平；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0.5%， 同比低0.1个百分点；企业债券余额占比7.7%，同比低0.3个百分点；政府债券余额占比21.4%，同比高 ...

（文章来源：人民网） 人民网北京12月12日电 （记者罗知之）据中国人民银行网站消息，11月金融统计数据报告显示，11月 份，经常项下跨境人民币结算金额为1.49万亿元，其中货物贸易、服务贸易及其他经常项目分别为1.19 万亿元、0.3万亿元；直接投资跨境人民币结算金额为0.71万亿元，其中对外直接投资、外商直接投资分 别为0.26万亿元、0.45万亿元。 ...

初步统计，2025年前十一个月社会融资规模增量累计为33.39万亿元，比上年同期多3.99万亿元。其 中，对实体经济发放的人民币贷款增加14.93万亿元，同比少增1.28万亿元；对实体经济发放的外币贷款 折合人民币减少1368亿元，同比少减1873亿元；委托贷款增加895亿元，同比多增1453亿元；信托贷款 增加3003亿元，同比少增823亿元；未贴现的银行承兑汇票增加1605亿元，同比多增3568亿元；企业债 券净融资2.24万亿元，同比多3125亿元；政府债券净融资13.15万亿元，同比多3.61万亿元；非金融企业 境内股票融资4204亿元，同比多1788亿元。 三、广义货币增长8% 11月末，广义货币(M2)余额336.99万亿元，同比增长8%。狭义货币(M1)余额112.89万亿元，同比增 长4.9%。流通中货币(M0)余额13.74万亿元，同比增长10.6%。前十一个月净投放现金9175亿元。 四、前十一个月人民币存款增加24.73万亿元 中国经济网北京12月12日讯 央行网站今日公布的《2025年11月金融统计数据报告》显示，2025年 11月末社会融资规模存量为440.07万亿元，同比增长8.5 ...

一、社会融资规模存量同比增长8.5% 初步统计，2025年11月末社会融资规模存量为440.07万亿元，同比增长8.5%。其中，对实体经济发放的人民币贷款余额为267.42万亿 元，同比增长6.3%；对实体经济发放的外币贷款折合人民币余额为1.13万亿元，同比下降16.5%；委托贷款余额为11.32万亿元，同比 增长1%；信托贷款余额为4.6万亿元，同比增长7.4%；未贴现的银行承兑汇票余额为2.3万亿元，同比增长0.4%；企业债券余额为 34.08万亿元，同比增长5.6%；政府债券余额为94.24万亿元，同比增长18.8%；非金融企业境内股票余额为12.14万亿元，同比增长 4%。 从结构看，11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60.8%，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%，同比持平；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0.5%，同比低0.1个百分点；企业债券余额占比7.7%，同比低0.3个百分点；政府债券余额占比 21.4%，同比高1.8个百分点；非金融企 ...

Core Viewpoint - The People's Bank of China reported that as of November 2025, the total social financing stock increased by 8.5% year-on-year, indicating a stable growth in the financial support for the real economy [4]. Group 1: Social Financing Scale - As of November 2025, the total social financing stock was 440.07 trillion yuan, with a year-on-year growth of 8.5% [4]. - The balance of RMB loans to the real economy was 267.42 trillion yuan, growing by 6.3% year-on-year [4]. - The balance of foreign currency loans to the real economy, converted to RMB, was 1.13 trillion yuan, showing a decline of 16.5% year-on-year [4]. - The balance of entrusted loans was 11.32 trillion yuan, increasing by 1% year-on-year [4]. - The balance of trust loans was 4.6 trillion yuan, with a year-on-year growth of 7.4% [4]. - The balance of corporate bonds was 34.08 trillion yuan, up by 5.6% year-on-year [4]. - The balance of government bonds reached 94.24 trillion yuan, marking an 18.8% increase year-on-year [4]. - The balance of non-financial corporate domestic stocks was 12.14 trillion yuan, growing by 4% year-on-year [4]. Group 2: Financing Structure - By the end of November, RMB loans accounted for 60.8% of the total social financing stock, down by 1.3 percentage points year-on-year [5]. - The proportion of foreign currency loans was 0.3%, unchanged year-on-year [5]. - Entrusted loans made up 2.6% of the total, down by 0.2 percentage points year-on-year [5]. - Trust loans represented 1% of the total, down by 0.1 percentage points year-on-year [5]. - The share of corporate bonds was 7.7%, down by 0.3 percentage points year-on-year [5]. - Government bonds accounted for 21.4%, up by 1.8 percentage points year-on-year [5]. - Non-financial corporate domestic stocks made up 2.8%, down by 0.1 percentage points year-on-year [5]. Group 3: Monetary Supply - By the end of November, the broad money supply (M2) was 336.99 trillion yuan, with an 8% year-on-year growth [7]. - The narrow money supply (M1) was 112.89 trillion yuan, increasing by 4.9% year-on-year [7]. - The currency in circulation (M0) was 13.74 trillion yuan, showing a 10.6% year-on-year growth [7]. Group 4: Deposits and Loans - By the end of November, the total deposits in RMB and foreign currencies reached 334.46 trillion yuan, growing by 8% year-on-year [8]. - The RMB deposit balance was 326.96 trillion yuan, with a year-on-year increase of 7.7% [8]. - In the first eleven months, RMB loans increased by 15.36 trillion yuan, with a year-on-year growth of 6.4% [9]. - The balance of foreign currency loans was 542.9 billion USD, showing a decline of 1.6% year-on-year [9]. Group 5: Interbank Market - In November, the weighted average interest rate for interbank RMB market lending was 1.42%, up by 0.03 percentage points from the previous month [10]. - The weighted average interest rate for pledged bond repos was 1.44%, also up by 0.04 percentage points from the previous month [10]. Group 6: Cross-Border Transactions - In November, the cross-border RMB settlement amount under the current account was 1.49 trillion yuan [11]. - The direct investment cross-border RMB settlement amount was 0.71 trillion yuan [11].

央行发布2025年11月金融统计数据报告。 一、社会融资规模存量同比增长8.5% 初步统计，2025年11月末社会融资规模存量为440.07万亿元，同比增长8.5%。其中，对实体经济发放的 人民币贷款余额为267.42万亿元，同比增长6.3%；对实体经济发放的外币贷款折合人民币余额为1.13万 亿元，同比下降16.5%；委托贷款余额为11.32万亿元，同比增长1%；信托贷款余额为4.6万亿元，同比 增长7.4%；未贴现的银行承兑汇票余额为2.3万亿元，同比增长0.4%；企业债券余额为34.08万亿元，同 比增长5.6%；政府债券余额为94.24万亿元，同比增长18.8%；非金融企业境内股票余额为12.14万亿 元，同比增长4%。 从结构看，11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60.8%，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%，同比持平；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0.5%， 同比低0.1个百分点；企业债券余额占比7.7%，同比低0.3个百分点；政府债券余额 ...

【大河财立方消息】12月12日，央行发布2025年11月金融统计数据报告。 一、社会融资规模存量同比增长8.5% 初步统计，2025年11月末社会融资规模存量为440.07万亿元，同比增长8.5%。其中，对实体经济发放的 人民币贷款余额为267.42万亿元，同比增长6.3%；对实体经济发放的外币贷款折合人民币余额为1.13万 亿元，同比下降16.5%；委托贷款余额为11.32万亿元，同比增长1%；信托贷款余额为4.6万亿元，同比 增长7.4%；未贴现的银行承兑汇票余额为2.3万亿元，同比增长0.4%；企业债券余额为34.08万亿元，同 比增长5.6%；政府债券余额为94.24万亿元，同比增长18.8%；非金融企业境内股票余额为12.14万亿 元，同比增长4%。 从结构看，11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60.8%，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%，同比持平；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0.5%， 同比低0.1个百分点；企业债券余额占比7.7%，同 ...

人民财讯12月12日电，央行发布2025年11月金融统计数据报告。11月份，经常项下跨境人民币结算金额 为1.49万亿元，其中货物贸易、服务贸易及其他经常项目分别为1.19万亿元、0.3万亿元；直接投资跨境 人民币结算金额为0.71万亿元，其中对外直接投资、外商直接投资分别为0.26万亿元、0.45万亿元。 ...

Core Viewpoint - The signing of a new shipbuilding project between China Shipbuilding Group and China COSCO Shipping Group marks a historic moment for China's shipbuilding industry, involving 87 vessels with a total value of approximately 50 billion RMB, making it the highest single contract amount in the domestic shipbuilding sector [2][4]. Group 1: Project Details - The cooperation involves 87 vessels across various types, with a total contract value of about 500 billion RMB, of which approximately 470 billion RMB will be settled in cross-border RMB [2][3]. - The project will be undertaken by subsidiaries of China Shipbuilding, including Jiangnan Shipyard, Dalian Shipbuilding Industry, and others [4][5]. Group 2: Financial Performance - In the first three quarters of 2025, China Shipbuilding achieved a revenue of 107.4 billion RMB, representing a year-on-year growth of 17.96%, and a net profit attributable to shareholders of 5.85 billion RMB, up 115.41% year-on-year [8][9]. - The company has seen a significant increase in revenue and profit due to an optimized order structure and improved delivery of civil ship products [9]. Group 3: Future Outlook - The long-term contract is expected to positively impact the company's future revenue and profitability, enhancing its market competitiveness and profitability [5]. - The company plans to engage in futures and derivatives trading to mitigate risks associated with currency fluctuations and commodity price volatility, with a projected trading limit of up to 24 billion USD for 2026 [10]. Group 4: Industry Trends - The shipbuilding industry is moving towards green and intelligent development, with a focus on technological innovation and low-carbon solutions [6].