中国银行业_8 月社会融资规模疲软,因信贷和政府债券增长乏力;存款向非存款类产品转移-China Banks_ Soft TSF in Aug due to weaker credit and gov. bond growth; Deposits shift towards non-deposit products
12 September 2025 | 10:10PM HKT China Banks Soft TSF in Aug due to weaker credit and gov. bond growth; Deposits shift towards non-deposit products New TSF and loan growth in August 2025 recorded Rmb 2.6/0.6tn, compared to Rmb 3.0/0.9tn in August 2024. Outstanding balances expanded by 8.8%/6.8% yoy, vs. 8.1%/8.5% in August 2024. Key takeaways include: 1. New TSF in August was Rmb 2.6tn, a decrease of Rmb -0.5tn in the yoy increment, mainly due to weaker yoy growth in both loan and government bond issuance. N ...