The Central Bank of the Republic of China released preliminary end-September 2025 monetary and financing statistics, reporting that outstanding total social financing reached CNY 437.08 trillion, up 8.7% year on year, and broad money (M2) rose 8.4% to CNY 335.38 trillion. The update also sets out January–September flows in social financing, deposits and loans, key interbank market rates, foreign exchange reserves and cross-border RMB settlement. Total social financing added in the first three quarters amounted to CNY 30.09 trillion, CNY 4.42 trillion more than a year earlier, with government bonds contributing net financing of CNY 11.46 trillion. Within the end-September stock, RMB loans to the real economy were CNY 267.03 trillion (6.4% y/y) and accounted for 61.1% of total social financing, while government bonds were CNY 92.55 trillion (20.2% y/y) and accounted for 21.2%. Narrow money (M1) stood at CNY 113.15 trillion (7.2% y/y) and currency in circulation (M0) at CNY 13.58 trillion (11.5% y/y); RMB deposits increased CNY 22.71 trillion and RMB loans increased CNY 14.75 trillion in January–September. The September weighted average interbank lending rate was 1.45% and the pledged repo rate was 1.46%; foreign exchange reserves were USD 3.34 trillion and the end-month exchange rate was CNY 7.1055 per USD. Cross-border RMB settlement totalled CNY 13.06 trillion for current-account items and CNY 6.04 trillion for direct investment over the first three quarters. The central bank noted that the figures are preliminary, that it revised the M1 statistical definition from January 2025, and that since January 2023 certain non-deposit-taking banking institutions have been brought into the financial statistics scope, with related adjustments to some social financing series.

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