BEIJING, Nov. 13 (Xinhua) -- China's yuan-denominated loans rose by 11.42 trillion yuan (about 1.7 trillion U.S. dollars) in the first 10 months of 2026, central bank data showed on Friday.
At the end of October, outstanding yuan loans stood at 283.33 trillion yuan, up 4.7 percent year on year, according to the People's Bank of China (PBOC).
China's outstanding aggregate financing to the real economy stood at 469.16 trillion yuan at the end of October, up 7.2 percent year on year, the central bank noted.
M2, a broad measure of money supply that covers cash in circulation and all deposits, increased by 7.1 percent year on year to 359.06 trillion yuan by the end of last month, the PBOC said.
"Growth rates of M2 and total social financing remained at reasonable levels, creating an appropriate monetary and financial environment for economic recovery and upgrading," said Zhou Zhen, associate professor at Tsinghua University's PBC School of Finance.
Credit has flowed increasingly to key areas. In the first 10 months, loans to enterprises and public institutions increased by 12.39 trillion yuan, including 6.69 trillion yuan in medium- and long-term loans.
Outstanding inclusive loans to small and micro businesses rose 6.9 percent year on year to 38.24 trillion yuan. Outstanding medium- and long-term loans to the service sector, excluding the real estate sector, rose 9.2 percent to 62.99 trillion yuan. Both outpaced overall loan growth.
By the end of September, some 307,300 small and medium-sized sci-tech enterprises had received loan support, with a loan access rate of 51.1 percent.
Financing channels have become more diversified. In the first 10 months, bond and equity financing accounted for around 53 percent of new aggregate social financing.
Funding costs remained low this year. In October, the weighted average rate on newly issued enterprise loans was about 2.9 percent, down 0.2 percentage points year on year, while that on new personal housing loans was about 3.1 percent, basically unchanged from the same period last year.
Zhang Xu, an analyst at Everbright Securities, said that as the integrated effects of existing and new policies continue to emerge, the financial system will keep providing strong support for the high-quality development of the real economy. ■
