CCTV News: According to the central bank's website, preliminary statistics were made, at the end of March 2025, the stock of social financing was 422.96 trillion yuan, an increase of 8.4% year-on-year. Among them, the balance of RMB loans issued to the real economy was 262.18 trillion yuan, a year-on-year increase of 7.2%; the balance of foreign currency loans issued to the real economy was 1.19 trillion yuan, a year-on-year decrease of 34.5%; the balance of entrusted loans was 11.24 trillion yuan, a year-on-year increase of 0.6%; the balance of trust loans was 4.35 trillion yuan, a year-on-year increase of 6.2%; the balance of undiscounted bank acceptance bills was 2.67 trillion yuan, a year-on-year decrease of 12.1%; the balance of corporate bonds was 32.59 trillion yuan, a year-on-year increase of 2.4%; the balance of government bonds was 84.96 trillion yuan, a year-on-year increase of 19.4%; the balance of domestic stocks of non-financial enterprises was 11.82 trillion yuan, a year-on-year increase of 2.7%.

From the structural perspective, the balance of RMB loans issued to the real economy at the end of March accounted for 62% of the stock of social financing in the same period, 0.7 percentage points lower than the year-on-year; the foreign currency loans issued to the real economy accounted for 0.3% of the RMB balance, 0.2 percentage points lower than the year-on-year; the balance of entrusted loans accounted for 2.7%, 0.2 percentage points lower than the year-on-year; the balance of trust loans accounted for 1%, 0.1 percentage points lower than the year-on-year; the balance of undiscounted bank acceptance bills accounted for 0.6%, 0.2 percentage points lower than the year-on-year; the balance of corporate bonds accounted for 7.7%, 0.5 percentage points lower than the year-on-year; the balance of government bonds accounted for 20.1%, 1.9 percentage points higher than the year-on-year; the balance of domestic stocks of non-financial enterprises accounted for 2.8%, 0.1 percentage points lower than the year-on-year.