China issues 9.78 trillion yuan in new loans in first three months

China issued 9.78 trillion yuan (1.36 trillion U.S. dollars) in new yuan-denominated loans in the first three months of 2025, central bank data showed on Sunday.

At the end of March, outstanding yuan loans amounted to 265.41 trillion yuan, up 7.4 percent year on year, according to the People's Bank of China.

In the first quarter, household loans increased by 1.04 trillion yuan. Loans to enterprises increased by 8.66 trillion yuan, of which medium and long-term loans increased by 5.58 trillion yuan.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased by 7 percent year on year to 326.06 trillion yuan at the end of last month.

The M1, which covers cash in circulation, demand deposits and clients' reserves of non-banking payment institutions, stood at 113.49 trillion yuan at the end of March, up 1.6 percent year on year.

In the first three months, China's yuan-denominated deposits increased by 12.99 trillion yuan, with household deposits accounting for 9.22 trillion yuan of this rise.

At the end of March, the total social financing stock in China reached 422.96 trillion yuan, marking an 8.4 percent increase from the previous year.

During the first three months, the newly added social financing amounted to 15.18 trillion yuan, representing a 2.37 trillion yuan increase from the corresponding period of the prior year. ■