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Bank lending and credit · China

China Total Social Financing

The China Total Social Financing measures how much new credit banks extend, or how fast their loans or deposits grow, in China.

Importance
Medium
Released
Monthly
Next release
Currency
CNH · Chinese yuan (renminbi)
Central bank
The People's Bank of China
Moves
GAUCNH# · USDCNH · XAUCNH#

Latest figures

The latest release for SEP, published on 14 October 2026, came in at CNY3550B.

ReleasedForActualConsensusPrevious
14 Oct 2026SEPCNY3550BCNY3270BCNY1660B
14 Sep 2026AUGCNY1660BCNY2040BCNY1410B
14 Aug 2026JULCNY1410BCNY1200BCNY3360B
15 Jul 2026JUNCNY3360BCNY3770BCNY2030B
12 Jun 2026MAYCNY2030BCNY1870BCNY620B
14 May 2026APRCNY620BCNY1500BCNY5230B
13 Apr 2026MARCNY5230BCNY5400BCNY2380B
13 Mar 2026FEBCNY2380BCNY2130BCNY7220B
13 Feb 2026JANCNY7220BCNY7050BCNY2210B
15 Jan 2026DECCNY2210BCNY2000BCNY2490B
12 Dec 2025NOVCNY2490B–CNY810B
13 Nov 2025OCTCNY810BCNY1230BCNY3530B

See it in the economic calendar →

Why it matters

Credit is the fuel of spending and investment. Strong lending growth means households and companies are confident and that monetary policy is passing through; a credit slowdown often precedes a slowdown in activity. In China, new loans and total social financing are among the most watched signs of stimulus.

How it is calculated

Banks report the outstanding stock of loans to the central bank; the release shows the change over the month or the growth from a year earlier.

What changes mean

  • Rising credit growth supports the growth outlook and the Chinese yuan (renminbi).
  • A sudden drop in lending can signal tighter bank standards or weak demand.
  • Compare with interest rates: credit should slow after hikes; if it does not, more tightening may follow.

Higher than expected: A stronger figure than expected points to a healthier economy: it usually supports the Chinese yuan (renminbi) and local stocks, and can push bond yields up.

Lower than expected: A weaker figure than expected points to slowing activity: the Chinese yuan (renminbi) tends to soften and markets price in lower rates.

A short history

Credit cycles were described by economists such as Hyman Minsky; after the 2008 financial crisis regulators began to track credit growth closely as an early warning of booms and busts.

Questions

What is the China Total Social Financing?

The China Total Social Financing measures how much new credit banks extend, or how fast their loans or deposits grow, in China.

What was the latest China Total Social Financing?

CNY3550B for SEP, published on 14 October 2026 (consensus CNY3270B, previous CNY1660B).

When is the next China Total Social Financing?

On Friday 13 November 2026.

Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.