China's financial system demonstrated renewed momentum as total social financing reached 440.07 trillion yuan ($62.4 trillion) by November 2025, exceeding last year's full-year total and marking an 8.5% year-on-year increase, according to Friday's announcement from the People's Bank of China (PBOC).
The central bank's data reveals sustained economic support measures, with yuan-denominated loans to productive sectors growing 6.3% to 267.42 trillion yuan. Monetary indicators showed parallel growth: M2 money supply expanded 8% to 336.99 trillion yuan, while M1 and M0 measures increased 4.9% and 10.6% respectively.
Analysts interpret these figures as evidence of effective policy coordination ahead of 2026 economic planning. "The liquidity expansion aligns with recent infrastructure investments and manufacturing upgrades," noted Shanghai-based economist Li Wei. "This positions China well for stabilizing global supply chains amid current geopolitical uncertainties."
While the PBOC maintains a prudent monetary stance, market observers anticipate targeted support measures for green energy and advanced manufacturing sectors in early 2026. The data arrives as Asian markets prepare for potential rate adjustments by major central banks in the coming quarter.
