Financial Aggregate Growth Remains Rational as Diverse Financing Structure Continues to Optimize

Data released by the People's Bank of China on October 14 shows that at the end of September, broad money (M2) balance reached 35.963 trillion yuan, up 7.2% year-on-year; social financing stock totaled 46.817 trillion yuan, up 7.1% year-on-year, aligning with expected targets for economic growth and overall price levels. Experts stated that the rational growth of financial aggregates has created a favorable monetary and financial environment for stable economic operation in the first three quarters and for moving toward new and better development. In the structure of social financing increments, the share of bond and equity financing continues to rise, with more distinct characteristics of diversified financing channels. In the next stage, as the integrated effects of existing and incremental monetary policy measures further emerge, the financial system will continue to provide strong support for high-quality development of the real economy.