PBOC: Jan-Apr Aggregate Financing to the Real Economy (Flow) at RMB15.45T, Below Market Forecast of RMB16.08T
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The People's Bank of China (PBOC) reported that Aggregate Financing to the Real Economy for January to April 2026 was RMB15.45 trillion, falling short of the RMB16.08 trillion forecast. This figure marks a year-on-year decrease of RMB893 billion. Loans to the real economy totaled RMB8.5 trillion, down RMB1.29 trillion year-on-year. Notably, corporate bond financing rose to RMB1.5 trillion, while government bond financing decreased to RMB4.45 trillion. Equity financing by non-financial enterprises reached RMB200.8 billion, an increase of RMB65.5 billion year-on-year.
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