The Central Bank of the Republic of China published preliminary monetary and financing statistics for end-March 2026 and the first quarter of 2026, covering aggregate social financing, money supply, deposits and loans, interbank market conditions, foreign exchange reserves and cross-border renminbi settlement. The release shows total social financing outstanding rising 7.9% year on year and broad money (M2) growing 8.5%, alongside a first-quarter increase in social financing of CNY 14.83 trillion, lower than the same period a year earlier. At end-March, social financing outstanding totalled CNY 456.46 trillion, including CNY 277.3 trillion in renminbi loans to the real economy (up 5.8%) and CNY 98.47 trillion in government bonds (up 15.9%). The first-quarter increase in social financing comprised CNY 8.9 trillion in renminbi loans to the real economy, CNY 1.05 trillion in net corporate bond financing and CNY 3.54 trillion in net government bond financing. Money supply stood at CNY 353.86 trillion for M2 (up 8.5%), CNY 119.32 trillion for M1 (up 5.1%) and CNY 14.71 trillion for M0 (up 12.5%), with net cash injection of CNY 613.5 billion in the quarter. Renminbi deposits rose by CNY 13.73 trillion in the first quarter to CNY 342.41 trillion (up 8.6%), while renminbi loans increased by CNY 8.6 trillion to CNY 280.51 trillion (up 5.7%). In the interbank market, the March weighted average rate was 1.38% for interbank lending and 1.4% for pledged repos, and foreign exchange reserves were reported at USD 3.34 trillion at end-March; cross-border renminbi settlement totalled CNY 4.52 trillion for current account items and CNY 2.11 trillion for direct investment in the first quarter.
Central Bank of the Republic of China 2026-04-13
Central Bank of the Republic of China releases March monetary and financing data showing social financing stock up 7.9% and M2 up 8.5%
The Central Bank of the Republic of China released preliminary monetary and financing statistics for end-March and the first quarter of 2026, reporting total social financing outstanding of CNY 456.46 trillion (up 7.9% year on year) and broad money (M2) of CNY 353.86 trillion (up 8.5%). First-quarter social financing increased by CNY 14.83 trillion, driven mainly by CNY 8.9 trillion in renminbi loans to the real economy and CNY 3.54 trillion in net government bond financing; foreign exchange reserves were USD 3.34 trillion at end-March.