China Yuan Loans Grow 11.52 Trillion Yuan in 2026

The People's Bank of China reported that yuan-denominated loans increased by 11.52 trillion yuan, or approximately 1.71 trillion U.S. dollars, during the first three quarters of 2026. By the end of September, outstanding yuan loans reached 283.44 trillion yuan, marking a 4.8 percent year-on-year increase.

Other financial indicators showed steady growth. The M2 money supply rose 7.2 percent to 359.63 trillion yuan, while M1 increased 3.2 percent to 116.76 trillion yuan. Aggregate financing to the real economy grew 7.1 percent, reaching 468.17 trillion yuan.

To support the real economy and facilitate economic transition, the central bank implemented two rounds of structural monetary policy this year. A September package reduced the one-year interest rate of the Pledged Supplementary Lending facility from 1.75 percent to 1.5 percent. Additionally, the bank increased the relending facility quota for sci-tech innovation and technological upgrades by 200 billion yuan to lower financing costs for private businesses and fund equipment upgrades.