China's Social Financing Totaled 15.45 Trillion Yuan in First Four Months of 2026, Down 893 Billion Yuan YoY

According to the People's Bank of China, social financing for the first four months of 2026 reached 15.45 trillion yuan, down 893 billion yuan year-over-year as of May 14. Within this, renminbi loans to the real economy increased by 8.5 trillion yuan, declining 1.29 trillion yuan compared to the same period last year. Foreign currency loans converted to renminbi rose 103.6 billion yuan, up 213.4 billion yuan year-over-year.
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