On October 14, the central bank released its financial statistics report for the first three quarters of 2026.
1. The stock of social financing increased by 7.1% year-on-year
Preliminary statistics show that the stock of social financing at the end of September 2026 was 468.17 trillion yuan, a year-on-year increase of 7.1%. Among them:
The balance of RMB loans issued to the real economy was 279.9 trillion yuan, a year-on-year increase of 4.8%;
The RMB-equivalent balance of foreign currency loans extended to the real economy was 1.25 trillion yuan, a year-on-year increase of 6.4%;
The balance of entrusted loans was 11.34 trillion yuan, a year-on-year increase of 1.5%;
The balance of trust loans was 4.53 trillion yuan, a year-on-year increase of 0.7%;
The balance of undiscounted bank acceptance bills was 2.22 trillion yuan, a year-on-year decrease of 8.8%;
The balance of corporate bonds was 36.62 trillion yuan, a year-on-year increase of 9.3%;
The balance of government bonds was 105.23 trillion yuan, a year-on-year increase of 13.7%;
The balance of domestic stocks of non-financial enterprises was 12.73 trillion yuan, a year-on-year increase of 5.8%.
From a structural point of view, the balance of RMB loans issued to the real economy at the end of September accounted for 59.8% of the stock of social financing in the same period, 1.3 percentage points lower than the same period last year; the balance of foreign currency loans issued to the real economy in RMB equivalents accounted for 0.3%, which was the same as the same period last year; the balance of entrusted loans accounted for 2.4%, which was 0.2 percentage points lower than the same period last year; the balance of trust loans accounted for 2.4%, which was 0.2 percentage points lower than the same period last year. 1%, the same as the same period last year; the balance of undiscounted bank acceptance bills accounted for 0.5%, 0.1 percentage points lower than the same period last year; the balance of corporate bonds accounted for 7.8%, 0.1 percentage points higher than the same period last year; the balance of government bonds accounted for 22.5%, 1.3 percentage points higher than the same period last year; the balance of domestic stocks of non-financial enterprises accounted for 2.7%, 0.1 percentage points lower than the same period last year.
2. The cumulative increase in social financing scale in the first three quarters was 27.46 trillion yuan.
Preliminary statistics show that the cumulative increase in social financing in the first three quarters of 2026 was 27.46 trillion yuan, 2.63 trillion yuan less than the same period last year. Among them:
RMB loans extended to the real economy increased by 11.5 trillion yuan, a decrease of 3.04 trillion yuan year-on-year;
Foreign currency loans issued to the real economy increased by RMB 245.1 billion, an increase of RMB 339.7 billion year-on-year;
Entrusted loans increased by 22.2 billion yuan, an increase of 79.4 billion yuan year-on-year;
Trust loans decreased by 138.3 billion yuan, an increase of 338.7 billion yuan year-on-year;
Undiscounted bank acceptance bills increased by 74.8 billion yuan, a decrease of 226.3 billion yuan year-on-year;
Net corporate bond financing was 2.75 trillion yuan, 1.18 trillion yuan more than the same period last year;
Net financing from government bonds was 10.3 trillion yuan, 1.16 trillion yuan less than the same period last year;
Domestic equity financing of non-financial enterprises was 535.9 billion yuan, 219.1 billion yuan more than the same period last year.
3. Broad money grew by 7.2%
At the end of September, the balance of broad money (M2) was 359.63 trillion yuan, a year-on-year increase of 7.2%. The balance of narrow currency (M1) was 116.76 trillion yuan, a year-on-year increase of 3.2%. The balance of currency (M0) in circulation was 15.02 trillion yuan, a year-on-year increase of 10.6%. Net cash injection in the first three quarters was 922.1 billion yuan.
4. RMB deposits increased by 20.76 trillion yuan in the first three quarters
At the end of September, the balance of domestic and foreign currency deposits was 357.52 trillion yuan, a year-on-year increase of 7.6%. The balance of RMB deposits at the end of the month was 349.45 trillion yuan, a year-on-year increase of 7.5%.
In the first three quarters, RMB deposits increased by 20.76 trillion yuan. Among them, household deposits increased by 9.39 trillion yuan, non-financial corporate deposits increased by 3.16 trillion yuan, fiscal deposits increased by 1.63 trillion yuan, and non-banking financial institution deposits increased by 4.41 trillion yuan.
At the end of September, the balance of foreign currency deposits was US$1.2 trillion, a year-on-year increase of 17.7%. Foreign currency deposits increased by US$139.4 billion in the first three quarters.
5. RMB loans increased by 11.52 trillion yuan in the first three quarters
At the end of September, the balance of domestic and foreign currency loans was 287.29 trillion yuan, a year-on-year increase of 4.7%. The balance of RMB loans at the end of the month was 283.44 trillion yuan, a year-on-year increase of 4.8%.
In the first three quarters, RMB loans increased by 11.52 trillion yuan. In terms of sectors, household loans decreased by 1.03 trillion yuan, of which short-term loans decreased by 1.14 trillion yuan, and medium and long-term loans increased by 106.2 billion yuan; loans to enterprises (public institutions) increased by 12.55 trillion yuan, of which short-term loans increased by 4.64 trillion yuan, medium and long-term loans increased by 6.53 trillion yuan, and bill financing increased by 1.24 trillion yuan; loans from non-banking financial institutions decreased by 586.5 billion yuan.
At the end of September, the balance of foreign currency loans was US$571.9 billion, a year-on-year increase of 3.1%. Foreign currency loans increased by US$26.8 billion in the first three quarters.
6. In September, the monthly weighted average interest rate for interbank lending in the inter-bank RMB market was 1.4%, and the monthly weighted average interest rate for pledged bond repurchase was 1.4%.
In the first three quarters, the inter-bank RMB market's total turnover in the form of interbank lending, spot bonds and repurchases was 1,713.26 trillion yuan, with an average daily turnover of 9.21 trillion yuan, and the average daily turnover increased by 7.6% year-on-year. Among them, the average daily trading volume of interbank lending increased by 9.6% year-on-year, the average daily trading volume of spot bonds increased by 4% year-on-year, and the average daily trading volume of pledged repurchase increased by 8.1% year-on-year.
The weighted average inter-bank lending rate in September was 1.4%, 0.02 percentage points higher than the previous month and 0.05 percentage points lower than the same period last year; the weighted average interest rate of pledged repurchase was 1.4%, the same as last month and 0.06 percentage points lower than the same period last year.
7. The country’s foreign exchange reserve balance is US$3.4 trillion
At the end of September, the country's foreign exchange reserve balance was US$3.4 trillion. At the end of September, the RMB exchange rate was 6.7351 yuan per US dollar.
8. In the first three quarters, the cross-border RMB settlement amount under the current account was 15.23 trillion yuan, and the cross-border RMB settlement amount for direct investment was 6.11 trillion yuan.
In the first three quarters, the amount of cross-border RMB settlement under the current account was 15.23 trillion yuan, of which trade in goods, trade in services and other current accounts were 11.92 trillion yuan and 3.31 trillion yuan respectively; the amount of cross-border RMB settlement of direct investment was 6.11 trillion yuan, of which overseas direct investment and foreign direct investment were 2.2 trillion yuan and 3.91 trillion yuan respectively.
