China's January Social Financing Growth Surprises Analysts

China's social financing exhibited remarkable growth in January 2026, with a total increase of 7.22 trillion yuan, which was above market expectations. This figure underscores the economic stability and strong support from the financial sector for the real economy.

The People's Bank of China, the country's central bank, revealed on Friday that the rise in social financing during January represented a year-on-year increase of 166.2 billion yuan. At the conclusion of January, the total outstanding amount of social financing reached 449.11 trillion yuan, reflecting a year-on-year growth rate of 8.2 percent.

Another significant indicator is the broad money supply, measured as M2, which stood at 347.19 trillion yuan for the same period. This represents a healthy year-on-year growth of 9.0 percent, indicating a robust liquidity environment within the financial market.

Personal loans have also shown consistent growth, with the total value of RMB loans climbing to 276.62 trillion yuan. This marks a 6.1 percent increase compared to the previous year, suggesting a steady demand for credit among consumers.

These figures collectively reflect a positive trend in China's financial landscape, highlighting the effectiveness of monetary policies in bolstering economic activity and sustaining momentum within the real estate and consumer sectors.