Annual financing flow, year-end stock and RMB-loan component; trillion yuan, 2025 prelim.
China’s aggregate financing to the real economy reached a year-end stock of 442.1 trillion yuan in 2025. Financing supplied during the year totaled 35.6 trillion yuan. Outstanding RMB loans to the real economy were 268.4 trillion yuan, equal to about 60.7 percent of the year-end AFRE stock. The annual flow and year-end stock measure different concepts and should not be added or ranked as if they were peer categories.
Publisher: National Bureau of Statistics of China
Dataset/table: Aggregate financing to the real economy, 2025
Units: trillion yuan
Date checked: 2026-07-18
Evidence: Supports China’s 2025 AFRE flow, year-end stock and outstanding RMB loans to the real economy.
AFRE is broader than bank lending. The annual flow is a period total, while the stock is an end-period outstanding balance. The National Bureau of Statistics identifies the annual communiqué figures as preliminary.
Keeps the reported annual flow and year-end stock separate and calculates only the RMB-loan share against the stock denominator.
All values use the same NBS communiqué, year, currency and AFRE definitions.
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