In January this year, China’s social financing amounted to RMB 7.06 trillion ($1 trillion), increasing by RMB 583.3 billion ($81.4 billion) compared to December last year, according to the People’s Bank of China (PBOC).
In January, new Chinese currency loans totaled RMB 5.13 trillion ($0.7 trillion), indicating a rise compared to RMB 4.9 trillion recorded in the same month last year. Government bond issuance totaled around RMB 700 billion in January, increasing by RMB 400 billion year on year. The acceleration of government bond issuance in January bolstered the increase in the scale of China’s social financing in the given period.