According to the People's Bank of China, preliminary statistics show that the cumulative increase in social financing in the first eight months of 2023 was 25.21 trillion yuan, 842 billion yuan more than the same period last year. The increase in social financing in August was 3.12 trillion yuan, up 631.6 billion yuan YoY. RMB loans issued to the real economy increased by 1.34 trillion yuan, a YoY decrease of 10.2 billion yuan. Foreign currency loans issued to the real economy decreased by 20.1 billion yuan, a decrease of 62.5 billion yuan YoY. Entrusted loans increased by 9.7 billion yuan, a decrease of 165.8 billion yuan YoY. Trust loans decreased by 22.1 billion yuan, a decrease of 25.1 billion yuan YoY. Undiscounted bank acceptance bills increased by 112.9 billion yuan, a decrease of 235.7 billion yuan YoY. Net corporate bond financing was 269.8 billion yuan, 118.6 billion yuan more than the same period last year. Net financing from government bonds was 1.18 trillion yuan, 871.4 billion yuan higher than that of last year. Domestic equity financing of non-financial enterprises was 103.6 billion yuan, down 21.5 billion yuan YoY.



