---
source: People's Bank of China (PBC)
url: https://www.pbc.gov.cn/diaochatongjisi/attachDir/2026/02/2026021416101539242.htm
document_type: html
date_retrieved: 2026-03-15
period: February 2026 release window (closest available publication found)
parent_publication: Aggregate Financing to the Real Economy (Flow/Stock tables)
indicators_covered: [Total Social Financing, Outstanding Loan Growth YoY]
alternate_urls:
  - https://www.pbc.gov.cn/diaochatongjisi/attachDir/2026/02/2026021416101512219.htm
coverage_note: "Could not locate a single PBC March-2026 publication containing all four requested indicators (TSF, New Yuan Loans, M2 YoY, Outstanding Loan Growth YoY) from this runtime; nearest primary-source tables linked from PBC statistical section are provided."
---

# Aggregate Financing to the Real Economy (PBC tables)

## Flow table

```
Éç»áÈÚ×ʹæÄ£ÔöÁ¿Í³¼Æ±í
Aggregate
Financing to the Real Economy (Flow)
µ¥Î»£ºÒÚÔªÈËÃñ±Ò
Unit: 100
million Yuan
씀Items
Ô·Ý
Month
¡¡
ÆäÖÐ
Of which
¡¡
¡¡
¡¡
¡¡
¡¡
¡¡
¡¡
¡¡
¡¡
Éç»áÈÚ×ʹæÄ£ÔöÁ¿
ÈËÃñ±Ò´û¿î
Íâ±Ò´û¿î£¨ÕÛºÏÈËÃñ±Ò£©
ίÍдû¿î
ÐÅÍдû¿î
δÌùÏÖÒøÐгжһãƱ
Æóҵծȯ
Õþ¸®Õ®È¯
·Ç½ðÈÚÆóÒµ¾³ÄÚ¹ÉƱÈÚ×Ê
´æ¿îÀà½ðÈÚ»ú¹¹×ʲúÖ§³Ö֤ȯ
´û¿îºËÏú
AFRE(flow)
RMB loans
Foreign
currency-denominated loans
(RMB equivalent)
Entrusted
loans
Trust
loans
Undiscounted
bankers' acceptances
Net
financing of corporate bonds
Government
bonds
Equity
financing on the domestic stock market by non-financial enterprises
Asset-backed securities of
depository financial institutions
Loans written off
2025.01
70546
52194
-392
449
623
4654
4454
6933
473
-227
397
2025.02
22331
6528
-281
-228
-330
-2987
1702
16939
76
-269
542
2025.03
58961
38234
-295
-165
238
3632
-905
14866
412
-76
1967
2025.04
11599
884
-130
-2
-77
-2794
2340
9729
391
-316
631
2025.05
22900
5923
134
-166
173
-1164
1496
14585
152
-102
830
2025.06
42251
23600
325
-400
816
-1900
2422
13508
203
-111
2478
2025.07
11307
-4296
-87
-177
149
-1638
2748
12482
505
11
548
2025.08
25660
6253
-91
-165
350
1973
1338
13672
456
-48
875
2025.09
35299
16081
-129
283
62
3234
136
11893
499
73
2030
2025.10
8178
-154
-200
1654
155
-2895
2500
4852
695
98
452
2025.11
24926
4096
-222
-187
843
1488
4145
12077
341
-13
1122
2025.12
22132
9804
-675
308
679
-1492
1541
6833
559
7
2845
×¢£º
1.
Éç»áÈÚ×ʹæÄ£ÔöÁ¿ÊÇÖ¸Ò»¶¨Ê±ÆÚÄÚʵÌå¾­¼Ã´Ó½ðÈÚÌåϵ»ñµÃµÄ×ʽð¶î¡£
Êý¾ÝÀ´Ô´ÓÚÖйúÈËÃñÒøÐС¢¹ú¼Ò½ðÈڼල¹ÜÀí×ܾ֡¢Öйú֤ȯ¼à¶½¹ÜÀíίԱ»á¡¢ÖÐÑë¹úÕ®µÇ¼Ç½áËãÓÐÏÞÔðÈι«Ë¾ºÍÒøÐмäÊг¡½»Ò×ÉÌЭ»áµÈ²¿ÃÅ¡£
AFRE(flow) refers to the total volume of financing provided by the
financial system to the real economy during a certain period of time. In the
calculation of AFRE, data are from the PBC, NFRA, CSRC, CCDC and NAFMII.
```

## Stock table

```
Éç»áÈÚ×ʹæÄ£´æÁ¿Í³¼Æ±í
Aggregate
Financing to the Real Economy (Stock)
µ¥Î»£ºÍòÒÚÔªÈËÃñ±Ò
Unit:
Trillion Yuan
¡¡
2025.1
2025.2
2025.3
2025.4
2025.5
2025.6
2025.7
2025.8
2025.9
2025.10
2025.11
2025.12
씀Items
´æÁ¿
ÔöËÙ£¨
%
£©
´æÁ¿
ÔöËÙ£¨%£©
´æÁ¿
ÔöËÙ£¨%£©
´æÁ¿
ÔöËÙ£¨%£©
´æÁ¿
ÔöËÙ£¨%£©
´æÁ¿
ÔöËÙ£¨%£©
´æÁ¿
ÔöËÙ£¨%£©
´æÁ¿
ÔöËÙ£¨%£©
´æÁ¿
ÔöËÙ£¨%£©
´æÁ¿
ÔöËÙ£¨%£©
´æÁ¿
ÔöËÙ£¨%£©
´æÁ¿
ÔöËÙ£¨%£©
¡¡
Stock
Growth Rate(%)
Stock
Growth Rate(%)
Stock
Growth Rate(%)
Stock
Growth Rate(%)
Stock
Growth Rate(%)
Stock
Growth Rate(%)
Stock
Growth Rate(%)
Stock
Growth Rate(%)
Stock
Growth Rate(%)
Stock
Growth Rate(%)
Stock
Growth Rate(%)
Stock
Growth Rate(%)
Éç»áÈÚ×ʹæÄ£´æÁ¿
AFRE(stock)
415.19
8.0
417.29
8.2
422.97
8.4
424.00
8.7
426.16
8.7
430.24
8.9
431.25
9.0
433.65
8.8
437.08
8.7
437.71
8.5
440.07
8.5
442.12
8.3
ÈËÃñ±Ò´û¿î
RMB
loans
257.71
7.2
258.36
7.1
262.18
7.2
262.27
7.1
262.86
7.0
265.22
7.0
264.79
6.8
265.42
6.6
267.03
6.4
267.01
6.3
267.42
6.3
268.40
6.3
Íâ±Ò´û¿î£¨ÕÛºÏÈËÃñ±Ò£©
Foreign
currency-denominated loans (RMB equivalent)
1.24
-29.4
1.22
-30.9
1.19
-34.5
1.18
-33.9
1.19
-31.5
1.22
-26.6
1.21
-23.2
1.19
-21.0
1.18
-18.0
1.15
-16.9
1.13
-16.5
1.05
-18.0
ίÍдû¿î
Entrusted loans
11.28
0.4
11.25
0.3
11.24
0.6
11.24
0.5
11.22
0.4
11.18
0.0
11.16
-0.4
11.15
-0.6
11.17
-0.7
11.34
1.0
11.32
1.0
11.35
1.3
ÐÅÍдû¿î
Trust
loans
4.36
9.7
4.33
7.4
4.35
6.2
4.35
5.6
4.36
5.4
4.45
5.5
4.46
5.9
4.49
5.5
4.50
5.7
4.52
5.6
4.60
7.4
4.67
8.6
δÌùÏÖÒøÐгжһãƱ
Undiscounted bankers' acceptances
2.60
-14.6
2.30
-14.0
2.67
-12.1
2.39
-7.6
2.27
-7.4
2.08
-7.4
1.92
-10.4
2.12
-4.1
2.44
4.4
2.15
-2.2
2.30
0.4
2.15
-0.3
Æóҵծȯ
Net
financing of corporate bonds
32.69
4.1
32.80
4.0
32.59
2.4
32.80
3.2
32.91
3.4
33.13
3.5
33.39
3.8
33.47
3.7
33.50
4.5
33.68
4.9
34.08
5.6
34.24
6.0
Õþ¸®Õ®È¯
Government bonds
81.78
16.7
83.47
18.1
84.96
19.4
85.93
20.9
87.39
20.9
88.74
21.3
89.99
21.9
91.36
21.1
92.55
20.2
93.03
19.2
94.24
18.8
94.92
17.1
·Ç½ðÈÚÆóÒµ¾³ÄÚ¹ÉƱ
Equity
financing on the domestic stock market by non-financial enterprises
11.77
2.6
11.78
2.5
11.82
2.7
11.86
2.9
11.87
2.9
11.89
2.9
11.94
3.2
11.99
3.4
12.04
3.8
12.11
4.1
12.14
4.0
12.20
4.1
´æ¿îÀà½ðÈÚ»ú¹¹×ʲúÖ§³Ö֤ȯ
Asset-backed securities of depository financial institutions
0.77
-42.3
0.74
-43.5
0.74
-41.4
0.71
-33.5
0.70
-31.8
0.68
-27.9
0.69
-23.9
0.68
-20.3
0.69
-17.9
0.70
-14.6
0.70
-13.6
0.70
-12.3
´û¿îºËÏú
Loans
written off
9.98
15.3
10.03
15.2
10.23
15.4
10.29
15.4
10.37
15.4
10.62
15.5
10.68
15.5
10.76
15.5
10.97
15.0
11.01
14.8
11.13
15.0
11.41
14.8
×¢£º
1.
Éç»áÈÚ×ʹæÄ£´æÁ¿ÊÇÖ¸Ò»¶¨Ê±ÆÚÄ©£¨ÔÂÄ©¡¢¼¾Ä©»òÄêÄ©£©ÊµÌå¾­¼Ã´Ó½ðÈÚÌåϵ»ñµÃµÄ×ʽðÓà¶î¡£
Êý¾ÝÀ´Ô´ÓÚÖйúÈËÃñÒøÐС¢¹ú¼Ò½ðÈڼල¹ÜÀí×ܾ֡¢Öйú֤ȯ¼à¶½¹ÜÀíίԱ»á¡¢ÖÐÑë¹úÕ®µÇ¼Ç½áËãÓÐÏÞÔðÈι«Ë¾ºÍÒøÐмäÊг¡½»Ò×ÉÌЭ»áµÈ²¿ÃÅ¡£
AFRE(stock) refers to the outstanding of financing provided by the
financial system to the real economy at the end of a
period(monthly/quarterly/annual). In the calculation of AFRE, data are from
the PBC,NFRA,CSRC,CCDC and NAFMII.
```