The People’s Bank of China said preliminary data show aggregate social financing (TSF) in the first 10 months of 2026 totaled 28.61 tln yuan, down 2.29 tln yuan YoY. RMB loans to the real economy rose 10.91 tln yuan, 3.61 tln yuan less YoY; foreign-currency loans to the real economy (RMB equivalent) increased 254.6 bln yuan, 369.2 bln yuan more YoY; entrusted loans +208.4 bln yuan, up 100.2 bln YoY; trust loans -179.8 bln yuan, 395.8 bln yuan more of a decline YoY; undiscounted bank acceptance b

The People’s Bank of China said preliminary data show aggregate social financing (TSF) in the first 10 months of 2026 totaled 28.61 tln yuan, down 2.29 tln yuan YoY. RMB loans to the real economy rose 10.91 tln yuan, 3.61 tln yuan less YoY; foreign-currency loans to the real economy (RMB equivalent) increased 254.6 bln yuan, 369.2 bln yuan more YoY; entrusted loans +208.4 bln yuan, up 100.2 bln YoY; trust loans -179.8 bln yuan, 395.8 bln yuan more of a decline YoY; undiscounted bank acceptance bills -93.9 bln yuan, 105.5 bln yuan more of a decline YoY. Corporate bond net financing was 3.10 tln yuan, up 1.27 tln yuan YoY; government bond net financing was 11.49 tln yuan, down 459.2 bln yuan YoY; domestic equity financing by non-financial firms was 570.5 bln yuan, up 184.2 bln yuan YoY.