The People's Bank of China published its Statistical Report on Loan Investment of Financial Institutions for the fourth quarter of 2025, showing the balance of RMB loans at financial institutions at CNY 271.91 trillion, up 6.4% year on year, with RMB loans rising by CNY 16.27 trillion over 2025. Growth was led by lending to enterprises and institutions, while RMB real estate loan balances fell and green lending continued to expand at a markedly faster pace than overall credit. Loans to enterprises and institutions (domestic and foreign currency) stood at CNY 186.21 trillion, up 8.9% year on year, with the growth rate 0.7 percentage points higher than at end-Q3 2025. Within this, short-term loans and bill financing totalled CNY 64.16 trillion (up 11.0%) and medium- and long-term loans CNY 118.39 trillion (up 7.9%); operating loans were CNY 75.91 trillion (up 9.5%) and fixed asset loans CNY 77.52 trillion (up 6.9%). Green loans (domestic and foreign currency) reached CNY 44.77 trillion, up 20.2% year on year, while RMB real estate loans were CNY 51.95 trillion, down 1.6% (including real estate development loans at CNY 13.16 trillion, down 3.0%, and personal housing loans at CNY 37.01 trillion, down 1.8%). The report also recorded inclusive small and micro loans (RMB) at CNY 36.57 trillion (up 11.1%), agriculture-related loans (domestic and foreign currency) at CNY 53.57 trillion (up 6.5%), loans to technology-based small and medium-sized enterprises at CNY 3.63 trillion (up 19.8%) and household loans (domestic and foreign currency) at CNY 83.28 trillion (up 0.5%). Methodological notes flagged that the inclusive small and micro loan definition was adjusted from October 2024 and that green loan statistics and identification criteria were revised from 2025, limiting comparability with earlier data.

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