Central Bank: At the end of October, the broad money supply (M2) was 33.513 trillion yuan, an increase of 8.2% year-on-year.

On November 13, the People's Bank of China released the financial statistics data report for October 2025. Preliminary statistics show that the stock of social financing by the end of October 2025 was 437.72 trillion yuan, an increase of 8.5% year-on-year. The accumulated increment of social financing for the first ten months of 2025 was 30.9 trillion yuan, an increase of 3.83 trillion yuan compared to the same period last year. By the end of October, the broad money supply (M2) balance was 335.13 trillion yuan, an 8.2% increase year-on-year. The narrow money supply (M1) balance was 112 trillion yuan, a 6.2% increase year-on-year. The currency in circulation (M0) balance was 13.55 trillion yuan, a 10.6% increase year-on-year. The full article is as follows: Financial Statistics Data Report for October 2025 I. The stock of social financing increased by 8.5% year-on-year Preliminary statistics show that the stock of social financing by the end of October 2025 was 437.72 trillion yuan, an increase of 8.5% year-on-year. Among them, the balance of RMB loans issued to the real economy was 267.01 trillion yuan, an increase of 6.3% year-on-year; the balance of foreign currency loans issued to the real economy, converted into RMB, was 1.15 trillion yuan, a decrease of 16.9% year-on-year; entrusted loans balance was 11.34 trillion yuan, an increase of 1%; trust loans balance was 4.52 trillion yuan, an increase of 5.6%; undiscounted bank acceptance bills balance was 2.15 trillion yuan, a decrease of 2.2% year-on-year; corporate bond balance was 33.68 trillion yuan, an increase of 4.9%; government bond balance was 93.03 trillion yuan, an increase of 19.2%; non-financial corporate domestic stock balance was 12.11 trillion yuan, an increase of 4.1%. In terms of structure, by the end of October, the balance of RMB loans issued to the real economy accounted for 61% of the stock of social financing, a decrease of 1.3 percentage points year-on-year; the balance of foreign currency loans issued to the real economy, converted into RMB, accounted for 0.3%, unchanged year-on-year; entrusted loans balance accounted for 2.6%, a decrease of 0.2 percentage points year-on-year; trust loans balance accounted for 1%, a decrease of 0.1 percentage points year-on-year; undiscounted bank acceptance bills balance accounted for 0.5%, unchanged year-on-year; corporate bond balance accounted for 7.7%, a decrease of 0.3 percentage points year-on-year; government bond balance accounted for 21.3%, an increase of 2 percentage points year-on-year; non-financial corporate domestic stock balance accounted for 2.8%, a decrease of 0.1 percentage points year-on-year. II. The accumulated increment of social financing for the first ten months was 30.9 trillion yuan Preliminary statistics show that the accumulated increment of social financing for the first ten months of 2025 was 30.9 trillion yuan, an increase of 3.83 trillion yuan compared to the same period last year. Among them, the increase in RMB loans issued to the real economy was 14.52 trillion yuan, a decrease of 1.16 trillion yuan year-on-year; the decrease in foreign currency loans issued to the real economy, converted into RMB, was 114.6 billion yuan, a decrease of 162.7 billion yuan year-on-year; entrusted loans increased by 108.2 billion yuan, an increase of 145.6 billion yuan year-on-year; trust loans increased by 216 billion yuan, a decrease of 157.4 billion yuan year-on-year; undiscounted bank acceptance bills increased by 11.6 billion yuan, an increase of 29.88 billion yuan year-on-year; net financing of corporate bonds was 1.82 trillion yuan, an increase of 136.1 billion yuan year-on-year; net financing of government bonds was 11.95 trillion yuan, an increase of 3.72 trillion yuan year-on-year; non-financial corporate domestic stock financing was 386.3 billion yuan, an increase of 187.5 billion yuan year-on-year. III. Broad money supply increased by 8.2% By the end of October, the broad money supply (M2) balance was 335.13 trillion yuan, an increase of 8.2% year-on-year. The narrow money supply (M1) balance was 112 trillion yuan, an increase of 6.2%. The currency in circulation (M0) balance was 13.55 trillion yuan, an increase of 10.6%. A net cash injection of 728.4 billion yuan was made in the first ten months. IV. RMB deposits increased by 23.32 trillion yuan in the first ten months By the end of October, the balance of RMB and foreign currency deposits was 332.92 trillion yuan, an increase of 8.3% year-on-year. The RMB deposit balance was 325.55 trillion yuan, an increase of 8% year-on-year. RMB deposits increased by 23.32 trillion yuan in the first ten months. Among them, household deposits increased by 11.39 trillion yuan, non-financial corporate deposits increased by 444.7 billion yuan, fiscal deposits increased by 2.09 trillion yuan, and non-bank financial institution deposits increased by 6.66 trillion yuan. By the end of October, the balance of foreign currency deposits was 1.04 trillion US dollars, an increase of 24.3% year-on-year. Foreign currency deposits increased by 186.6 billion US dollars in the first ten months. V. RMB loans increased by 14.97 trillion yuan in the first ten months By the end of October, the balance of RMB and foreign currency loans was 274.54 trillion yuan, an increase of 6.3% year-on-year. The RMB loan balance was 270.61 trillion yuan, an increase of 6.5% year-on-year. RMB loans increased by 14.97 trillion yuan in the first ten months. By sector, household loans increased by 739.6 billion yuan, with short-term loans decreasing by 517 billion yuan and medium-to-long-term loans increasing by 1.26 trillion yuan; loans to enterprises and other entities increased by 13.79 trillion yuan, with short-term loans increasing by 4.34 trillion yuan, medium-to-long-term loans increasing by 8.32 trillion yuan, and bill financing increasing by 975.8 billion yuan; loans to non-bank financial institutions decreased by 18.5 billion yuan. By the end of October, the balance of foreign currency loans was 554.6 billion US dollars, a decrease of 3% year-on-year. Foreign currency loans increased by 12.5 billion US dollars in the first ten months. VI. In October, the weighted average interest rate for interbank RMB lending was 1.39%, and for collateralized bond repurchase it was 1.4% In October, the total transaction volume in the interbank RMB market through lending, direct purchase, and repurchase was 164.86 trillion yuan, with a daily average of 9.16 trillion yuan, an increase of 0.9% year-on-year. Among them, the daily average transaction volume for interbank lending decreased by 14.5% year-on-year, direct purchase increased by 10.2% year-on-year, and collateralized repurchase increased by 0.2% year-on-year. In October, the weighted average interest rate for interbank lending was 1.39%, a decrease of 0.06 and 0.2 percentage points compared to the previous month and the same period last year, respectively. The weighted average interest rate for collateralized repurchase was 1.4%, a decrease of 0.06 and 0.25 percentage points compared to the previous month and the same period last year, respectively. VII. In October, the amount of cross-border RMB settlements for current account transactions was 1.41 trillion yuan, and for direct investment it was 0.65 trillion yuan In October, the amount of cross-border RMB settlements for current account transactions was 1.41 trillion yuan, with 1.09 trillion yuan for goods trade, 0.32 trillion yuan for services trade, and other current items. The amount of cross-border RMB settlements for direct investment was 0.65 trillion yuan, with 0.27 trillion yuan for outbound direct investment and 0.38 trillion yuan for inbound direct investment. This article is compiled from the official website of the People's Bank of China; GMTEight Editor: Chen Xiaoyi.