TREE NEWS update: China’s fiscal-financial policy package to boost domestic demand supported more than 28 trillion yuan ($3.9 trillion) in new credit in the first three quarters of 2025, up 3.1% year on year, Vice Director of the Ministry of Finance’s Financial Department Li Nan said at a press conference on October 23. The policies benefited 8.36 million enterprises and 147 million residents over the period.
China’s MOF: Fiscal-Financial Policy Backs Over 28 Trillion Yuan in New Credit in First Three Quarters
AI take
The scale here is the story: fiscal-financial coordination is being positioned as a credit-creation engine, not just a spending tool, and the year-on-year growth shows it is still expanding rather than fading. The beneficiary counts matter because they suggest the support is reaching a broad base of firms and households rather than a narrow set of projects. For RWA and credit markets, the open question is whether this state-guided credit push translates into demand for tokenized or on-chain financing channels, or stays within the traditional banking system.
Generated by AI for reference only.
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