Preliminary PBOC data: stock of social financing at end-May 2026 was 458.81 tln
yuan, up 7.7% YoY. RMB loans to the real economy outstanding 277.40 tln yuan,
+5.5% YoY; foreign-currency loans to the real economy (converted to yuan) 1.14
tln, -4.3% YoY; entrusted loans 11.22 tln, flat YoY; trust loans 4.67 tln, +7.1%
YoY; undiscounted bank acceptances 2.13 tln, -6.2% YoY; corporate bond
outstanding 35.69 tln, +8.4% YoY; government bond outstanding 100.60 tln, +15.1%
YoY; non-financial corporates' domestic equity outstanding 12.43 tln, +4.7% YoY.
