The central bank released China's monetary policy implementation report for the second quarter of 2026. The effects of a moderately loose monetary policy continue to show, social financing conditions are relatively relaxed, and the quality and efficiency of financial services in the real economy continues to improve. The total amount of finance maintained reasonable growth. At the end of June, the stock of large-scale social financing and the broad money supply increased by 7.4% and 8.0%, respectively, over the same period last year. The banking system has abundant liquidity, and the average overnight interest rate of the money market DR001 for the first six months was 1.31%, and the overall operation was stable. The cost of comprehensive social financing was low. The interest rate for newly issued corporate loans in June was about 3.0%, about 20 basis points lower than the same period last year; the interest rate for newly issued personal housing loans was about 3.1%, which is basically the same as the same period last year. Investment in credit funds continued to be optimized. At the end of June, technology loans, green loans, inclusive loans, pension industry loans, and digital economy industry loans increased by 12.6%, 14.5%, 7.8%, 23.5%, and 15.1%, respectively, and continued to be higher than the overall loan growth rate. Supply and demand in the foreign exchange market are basically stable, and the RMB exchange rate remains basically stable at a reasonable equilibrium level. At the end of June, the RMB exchange rate against the US dollar closed at 6.7852 yuan, up 3% from the end of the previous year. The RMB exchange rate index of the China Foreign Exchange Trading Center was 102.59, up 4.7% from the end of the previous year.

The central bank released China's monetary policy implementation report for the second quarter of 2026. The effects of a moderately loose monetary policy continue to show, social financing conditions are relatively relaxed, and the quality and efficiency of financial services in the real economy continues to improve. The total amount of finance maintained reasonable growth. At the end of June, the stock of large-scale social financing and the broad money supply increased by 7.4% and 8.0%, respectively, over the same period last year. The banking system has abundant liquidity, and the average overnight interest rate of the money market DR001 for the first six months was 1.31%, and the overall operation was stable. The cost of comprehensive social financing was low. The interest rate for newly issued corporate loans in June was about 3.0%, about 20 basis points lower than the same period last year; the interest rate for newly issued personal housing loans was about 3.1%, which is basically the same as the same period last year. Investment in credit funds continued to be optimized. At the end of June, technology loans, green loans, inclusive loans, pension industry loans, and digital economy industry loans increased by 12.6%, 14.5%, 7.8%, 23.5%, and 15.1%, respectively, and continued to be higher than the overall loan growth rate. Supply and demand in the foreign exchange market are basically stable, and the RMB exchange rate remains basically stable at a reasonable equilibrium level. At the end of June, the RMB exchange rate against the US dollar closed at 6.7852 yuan, up 3% from the end of the previous year. The RMB exchange rate index of the China Foreign Exchange Trading Center was 102.59, up 4.7% from the end of the previous year.