The Zhitong Finance App learned that on October 14, central bank data showed that according to preliminary statistics, the cumulative increase in the scale of 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 issued to the real economy increased by 11.5 trillion yuan, a year-on-year decrease of 3.04 trillion yuan; foreign currency loans to the real economy increased by RMB 245.1 billion, an increase of 339.7 billion yuan; commissioned loans increased by 22.2 billion yuan, an increase of 79.4 billion yuan; trust loans decreased by 138.3 billion yuan, an increase of 338.7 billion yuan; undiscounted bank acceptance notes increased by 74.8 billion yuan, a year-on-year decrease of 226.3 trillion yuan; net financing of corporate bonds was 2.75 trillion yuan, an increase of 1.18 trillion yuan over the previous year; net financing of government bonds was 10.3 trillion yuan , 1.16 trillion yuan less than the previous year; domestic stock financing by non-financial enterprises was 535.9 billion yuan, an increase of 21.91 billion yuan over the same period last year.
At the end of September, the broad currency (M2) balance was 359.63 trillion yuan, up 7.2% year on year. The balance of narrow currency (M1) was 116.76 trillion yuan, up 3.2% year on year. The balance of currency in circulation (M0) was 15.02 trillion yuan, an increase of 10.6% over the previous year. Net cash investment for the first three quarters was 922.1 billion yuan.
The full text is as follows:
Financial Statistics Report for the First Three Quarters of 2026
1. The stock of large-scale social financing increased by 7.1% year-on-year
According to preliminary statistics, the social financing scale stock at the end of September 2026 was 468.17 trillion yuan, an increase of 7.1% over the previous year. Among them, RMB loan balance issued to the real economy was 279.9 trillion yuan, up 4.8% year on year; foreign currency loans issued to the real economy were equivalent to RMB 1.25 trillion, up 6.4% year on year; trust loan balance was 11.34 trillion yuan, up 1.5% year on year; trust loan balance was 4.53 trillion yuan, up 0.7% year on year; undiscounted bank acceptance bill balance was 2.22 trillion yuan, down 8.8% year on year; corporate bond balance was 36.62 trillion yuan, up 9.3% year on year; government bond balance was 105.23 trillion yuan year on year, up 6.4% year on year The increase was 13.7%; the balance of domestic stocks of non-financial enterprises was 12.73 trillion yuan, up 5.8% year on year.
In terms of structure, RMB loan balances issued to the real economy at the end of September accounted for 59.8% of the social financing scale stock during the same period, 1.3 percentage points lower than the previous year; foreign currency loans issued to the real economy accounted for 0.3% of the RMB balance, the same as the previous year; the balance of entrusted loans accounted for 2.4%, 0.2 percentage points lower than the previous year; the balance of trust loans accounted for 1%, which remained flat; the balance of undiscounted bank draft accounts for 0.5%, 0.1 percentage points higher than the previous year; the balance of government bonds accounted for 22.5% It was 1.3 percentage points higher than the previous year; the domestic stock balance of non-financial enterprises accounted for 2.7%, 0.1 percentage points lower than the previous year.
2. The cumulative increase in the scale of social financing in the first three quarters was 27.46 trillion yuan
According to preliminary statistics, the cumulative increase in the scale of 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 issued to the real economy increased by 11.5 trillion yuan, a year-on-year decrease of 3.04 trillion yuan; foreign currency loans to the real economy increased by RMB 245.1 billion, an increase of 339.7 billion yuan; commissioned loans increased by 22.2 billion yuan, an increase of 79.4 billion yuan; trust loans decreased by 138.3 billion yuan, an increase of 338.7 billion yuan; undiscounted bank acceptance notes increased by 74.8 billion yuan, a year-on-year decrease of 226.3 trillion yuan; net financing of corporate bonds was 2.75 trillion yuan, an increase of 1.18 trillion yuan over the previous year; net financing of government bonds was 10.3 trillion yuan , 1.16 trillion yuan less than the previous year; domestic stock financing by non-financial enterprises was 535.9 billion yuan, an increase of 21.91 billion yuan over the same period last year.
3. Generalized monetary growth of 7.2%
At the end of September, the broad currency (M2) balance was 359.63 trillion yuan, up 7.2% year on year. The balance of narrow currency (M1) was 116.76 trillion yuan, up 3.2% year on year. The balance of currency in circulation (M0) was 15.02 trillion yuan, an increase of 10.6% over the previous year. Net cash investment for 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 local and foreign currency deposits was 357.52 trillion yuan, an increase of 7.6% over the previous year. The balance of RMB deposits at the end of the month was RMB 349.45 trillion, up 7.5% year on year.
RMB deposits increased by 20.76 trillion yuan in the first three quarters. Among them, household deposits increased by 9.39 trillion yuan, non-financial enterprise deposits increased by 3.16 trillion yuan, fiscal deposits increased by 1.63 trillion yuan, and deposits of non-banking financial institutions increased by 4.41 trillion yuan.
At the end of September, the balance of foreign currency deposits was 1.2 trillion US dollars, up 17.7% year over year. Foreign currency deposits increased by $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 local and foreign currency loans was 287.29 trillion yuan, up 4.7% year on year. The balance of RMB loan at the end of the month was RMB 283.44 trillion, up 4.8% year on year.
RMB loans increased by 11.52 trillion yuan in the first three quarters. By sector, household loans decreased by 1.03 trillion yuan, of which short-term loans decreased by 1.14 trillion yuan and medium- to long-term loans increased by 106.2 billion yuan; enterprise (business) unit loans 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, bill financing increased by 1.24 trillion yuan; and 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, up 3.1% year on year. Foreign currency loans increased by 26.8 billion US dollars in the first three quarters.
The monthly weighted average interest rate for interbank lending in the RMB market in June and September was 1.4%, and the weighted average monthly interest rate for pledged bond repurchases was 1.4%
In the first three quarters, the interbank RMB market traded a total of 1713.26 trillion yuan through lending, cash and repurchase, with an average daily turnover of 9.21 trillion yuan. The average daily turnover increased 7.6% year over year. Among them, average daily interbank lending transactions increased 9.6% year over year, average daily cash transactions increased 4% year over year, and daily pledged repurchase transactions increased 8.1% year over year.
The weighted average interest rate for interbank lending 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 for pledged repurchases was 1.4%, the same as last month, 0.06 percentage points lower than the same period last year.
7. The balance of the country's foreign exchange reserves is 3.4 trillion US dollars
At the end of September, the balance of the country's foreign exchange reserves was 3.4 trillion US dollars. At the end of September, the RMB exchange rate was 1 US dollar to 6.7351 yuan.
8. The amount of cross-border RMB settlement under current account in the first three quarters was RMB 15.23 trillion, and the amount of cross-border RMB settlement amount for direct investment was RMB 6.11 trillion
In the first three quarters, cross-border RMB settlement amounts under current accounts were RMB 15.23 trillion, of which trade in goods, trade in services and other current accounts were RMB 11.92 trillion and RMB 3.31 trillion respectively; direct investment was RMB 6.11 trillion, of which OFDI and RMB 3.91 trillion were respectively.
This article was selected from “Central Bank Official Website”; Zhitong Finance Editor: Huang Xiaodong.