The People's Bank of China (PBOC) released preliminary statistics on Thursday, revealing a steady expansion in the financial landscape of the Chinese mainland. As of the end of April 2026, total outstanding social financing reached 456.89 trillion yuan (approximately $67.28 trillion), marking a year-on-year increase of 7.8%.
A significant catalyst for this growth was the surge in government bonds. Outstanding government bonds reached 99.37 trillion yuan ($14.63 trillion), representing a robust 15.6% year-on-year growth. This sector served as the primary driver of the overall expansion, reflecting strategic fiscal efforts to support the economy.
The data also highlights a healthy trajectory for corporate financing and real-economy support. Outstanding corporate bonds stood at 35.52 trillion yuan ($5.23 trillion), an increase of 8.3% compared to the previous year. Meanwhile, outstanding RMB loans directed toward the real economy totaled 276.9 trillion yuan ($40.77 trillion), growing by 5.6% year-on-year.
Looking at the broader trend for the start of the year, the cumulative total social financing added during the first four months of 2026 amounted to 15.45 trillion yuan ($2.28 trillion), underscoring a consistent flow of liquidity into the mainland's economic sectors.
Reference(s):
cgtn.com
