China issues 10.06 trillion yuan in new loans in first four months

BEIJING -- China issued 10.06 trillion yuan ($1.39 trillion) in new yuan-denominated loans in the first four months of 2025, central bank data showed on Wednesday.

At the end of April, outstanding yuan loans amounted to 265.7 trillion yuan, up 7.2 percent year-on-year, according to the People's Bank of China.

In the first four months, household loans increased by 518.4 billion yuan, while loans to enterprises increased by 9.27 trillion yuan.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8 percent year-on-year to 325.17 trillion yuan at the end of April.

The M1, which covers cash in circulation, demand deposits and clients' reserves of non-banking payment institutions, stood at 109.14 trillion yuan at the end of April, up 1.5 percent year-on-year.

The M0, which indicates the amount of cash in circulation, reached 13.14 trillion yuan at the end of last month, an increase of 12 percent year-on-year.

In the first four months, China's yuan-denominated deposits increased by 12.55 trillion yuan, with household deposits accounting for 7.83 trillion yuan of this rise.

The data also showed that the total social financing stock in China reached 424 trillion yuan at the end of April, marking an 8.7 percent increase from the previous year.

During the first four months, the newly added social financing amounted to 16.34 trillion yuan, representing a 3.61 trillion yuan increase from the corresponding period of the prior year, according to the data.