PBOC: Bond and Equity Financing in Total Social Financing Exceeds Loans by About 7 Percentage Points

TREE NEWS reports: The People’s Bank of China announced on October 14 that China’s total social financing increase for the first three quarters of 2026 reached 27.46 trillion yuan. RMB loans to the real economy increased by 11.5 trillion yuan, net financing through corporate bonds was 2.75 trillion yuan, and net financing through government bonds was 10.3 trillion yuan. Bond and equity financing accounted for about 49.48% of the total, exceeding loans by about 7 percentage points.