The People's Bank of China published preliminary April data on aggregate financing, money, loans and deposits. Outstanding aggregate financing to the real economy reached CNY 456.89 trillion at end-April, up 7.8% year on year, while cumulative new aggregate financing in January to April totalled CNY 15.45 trillion, CNY 893 billion less than in the same period a year earlier. Broad money M2 rose 8.6% to CNY 353.04 trillion and M1 rose 5.0% to CNY 114.58 trillion. Over the first four months, RMB loans increased by CNY 8.59 trillion and RMB deposits by CNY 14 trillion. RMB loans to the real economy remained the largest component of outstanding aggregate financing at 60.6%, though their share fell 1.3 percentage points from a year earlier. Government bonds accounted for 21.7% of the total, up 1.4 percentage points, with outstanding government bond financing up 15.6% year on year, while corporate bond balances rose 8.3%. In January to April, household RMB loans fell by CNY 490.2 billion, while loans to enterprises and public institutions increased by CNY 8.99 trillion. In April, the weighted average interbank lending rate was 1.29% and the pledged repo rate was 1.31%. Cross-border RMB settlement amounted to CNY 1.77 trillion for current account transactions and CNY 0.67 trillion for direct investment.
Central Bank of the Republic of China 2026-05-14
People's Bank of China publishes April financing and money data showing outstanding aggregate financing up 7.8 percent and M2 up 8.6 percent
The People’s Bank of China’s preliminary April data showed outstanding aggregate financing to the real economy at CNY 456.89 trillion, up 7.8% year on year, with cumulative new financing in January–April at CNY 15.45 trillion, CNY 893 billion lower than a year earlier. Broad money M2 rose 8.6% to CNY 353.04 trillion, while RMB loans increased by CNY 8.59 trillion and deposits by CNY 14 trillion. RMB loans to the real economy remained the largest component of aggregate financing at 60.6%, as household loans contracted by CNY 490.2 billion and loans to enterprises and public institutions grew by CNY 8.99 trillion.