China's financing activity demonstrated robust stability in May, indicating a notable improvement in market confidence, according to official data released on Friday.

The latest figures from the People's Bank of China reveal that the country's aggregate social financing, which represents the total financing provided to the real economy, reached 18.63 trillion yuan, or approximately 2.59 trillion dollars, in the first five months of the year. This marks an increase of 3.83 trillion yuan compared to the same timeframe last year.

As of the end of May, the outstanding aggregate social financing in China totaled 426.16 trillion yuan, reflecting an annual growth rate of 8.7 percent, consistent with the growth rate recorded at the end of April.

The broad money supply, known as M2, stood at 325.78 trillion yuan at the end of last month, which represents a year-on-year increase of 7.9 percent, slightly down from the 8 percent growth rate noted the previous month.

In addition, the M1 money supply, indicating the portion of money actively circulating in the economy, saw a growth of 2.3 percent year-on-year, an improvement from the 1.5 percent growth reported at the end of April. This trend has been interpreted by experts as a sign of increasing consumer spending.

The People's Bank of China also highlighted that new yuan-denominated loans amounted to 10.68 trillion yuan during the first five months of this year, reflecting continued support for economic activity.