China Banks Balance Sheet

Chinese banks extended CNY 3640 billion in new yuan loans in March 2025, far above CNY 1010 billion in February and more than the forecasts of CNY 3000 billion, as the authorities vow to intensify stimulus to support the economy amid a deepening trade conflict with the US. Household lending, including mortgages, increased by CNY 985.3 billion, rebounding from a decline of CNY 389.1 billion in February and corporate lending surged to CNY 2.84 trillion from CNY 1.04 trillion yuan. Meanwhile, money supply M2 grew 7% year-on-year in March, the same as in February but slightly below forecasts of a 7.1% rise. Total social financing which is a broad measure of credit and liquidity in the economy as it includes off-balance sheet forms of financing such as initial public offerings, loans from trust companies and bond sales, increased sharply to CNY 5890 billion from a downwardly revised CNY 2230 billion in February, and beating forecasts of CNY 4800 billion.