The Central Bank of the Republic of China published preliminary end-July 2025 data on the outstanding stock of total social financing, reporting CNY 431.26 trillion in financing to the real economy, up 9% year on year. RMB loans to the real economy stood at CNY 264.79 trillion (+6.8%), while foreign-currency loans (RMB equivalent) were CNY 1.21 trillion (-23.2%). Entrusted loans were CNY 11.16 trillion (-0.4%), trust loans CNY 4.46 trillion (+5.9%), and undiscounted bankers’ acceptances CNY 1.92 trillion (-10.4%). Corporate bonds totalled CNY 33.39 trillion (+3.8%), government bonds CNY 89.99 trillion (+21.9%), and domestic equity financing by non-financial enterprises CNY 11.94 trillion (+3.2%). In terms of composition, RMB loans accounted for 61.4% of the total stock (down 1.2 percentage points year on year) and government bonds 20.9% (up 2.2 percentage points). The release also reiterated that, from January 2023, consumer finance companies, wealth management subsidiaries and financial asset investment companies were added to the statistical coverage, with corresponding adjustments to the RMB loan and loan write-off series.
Central Bank of the Republic of China 2025-08-13
Central Bank of the Republic of China reports July 2025 outstanding social financing at CNY 431.26 trillion, up 9% year on year
The Central Bank of the Republic of China reported preliminary end-July 2025 data showing total social financing to the real economy at CNY 431.26 trillion, a 9% increase year on year. RMB loans comprised 61.4% of the total, while government bonds accounted for 20.9%. The report also noted the inclusion of consumer finance companies, wealth management subsidiaries, and financial asset investment companies in the statistical coverage from January 2023.