China's social financing scale expanded by 7.22 trillion yuan ($1.05 trillion) in January 2026, surpassing market expectations and underscoring sustained financial support for the real economy. The People's Bank of China released the data on Friday, revealing a year-on-year increase of 166.2 billion yuan, with total outstanding social financing reaching 449.11 trillion yuan—an 8.2% annual growth.
Broad money supply (M2) grew 9.0% year on year to 347.19 trillion yuan, while RMB loans rose 6.1% to 276.62 trillion yuan. The figures highlight stable credit expansion, particularly in personal loans, amid efforts to bolster domestic consumption and industrial activity.
Analysts suggest the robust growth reflects targeted monetary policies aimed at stabilizing the economy amid global uncertainties. Business leaders and investors are closely monitoring how these liquidity measures will translate into sector-specific growth in manufacturing, green energy, and technology this year.
