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China's aggregate social financing surges to 4.12 trillion yuan in Sept
Updated: October 14, 2023 09:46 chinadaily.com.cn

China's financing activity picked up as the increment in aggregate social financing — the total amount of financing to the real economy — reached 4.12 trillion yuan ($563.78 billion) in September, up by 563.8 billion yuan from a year earlier, the People's Bank of China, the country's central bank, said on Friday.

The amount was also up from 3.12 trillion yuan in August and beat the market expectations of about 3.7 trillion yuan.

In the first nine months of the year, the country's increment in aggregate social financing came in at 29.33 trillion yuan, up 1.41 trillion yuan compared with the same period of last year, the central bank said.

Meanwhile, China's outstanding aggregate social financing stood at 372.5 trillion yuan as of the end of September, marking a year-on-year growth of 9 percent, unchanged from a month earlier.

New yuan-denominated loans came in at 2.31 trillion yuan in September, down by 176.4 billion yuan from a year ago but up from 1.36 trillion yuan in August.

The broad money supply, or M2, stood at 289.67 trillion yuan as of the end of last month, up 10.3 percent year-on-year. The growth rate was 0.3 percentage points down from a month earlier and 1.8 percentage points lower than a year ago.

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