The central bank: By the end of July, the total social financing stock increased by 7.4% year-on-year, and M2 increased by 7.7% year-on-year.

According to the Zhitong Finance APP, on August 14, the People's Bank of China released the financial statistics report for July 2026. The report shows that, based on preliminary statistics, the total social financing scale at the end of July 2026 was 463.27 trillion yuan, an increase of 7.4% year-on-year. Among this, the balance of RMB loans issued to the real economy was 278.57 trillion yuan, up 5.2% year-on-year. In the first seven months of 2026, the cumulative increase in the total social financing scale was 22.25 trillion yuan, which is 1.74 trillion yuan less than the same period last year. At the end of July, the balance of broad money (M2) was 355.51 trillion yuan, a year-on-year increase of 7.7%. The balance of narrow money (M1) was 115.46 trillion yuan, an increase of 4% year-on-year.