At a July 15 State Council Information Office briefing on 1H 2026 monetary
policy and financial statistics, PBOC spokesman Yan Xiandong said corporate
direct financing increased markedly. Non-financial corporate bond net financing
totaled 2.07 tln yuan in 1H, up 916.7 bln yuan YoY; non-financial corporate
equity financing was 293.3 bln yuan, up 122.4 bln yuan YoY. Together they
accounted for 11.3% of social financing growth, 5.6 percentage points higher
than a year earlier.