The central bank: The broad money supply (M2) balance at the end of November was 336.99 trillion yuan, an increase of 8% year-on-year.

On December 12, the People's Bank of China released the financial statistical data report for November 2025. Preliminary statistics show that by the end of November 2025, the stock of social financing was 44.007 trillion yuan, an increase of 8.5% compared to the same period last year. The cumulative increase in the scale of social financing for the first eleven months of 2025 was 3.339 trillion yuan, 399 billion yuan more than the same period last year. By the end of November, the broad money supply (M2) balance was 33.699 trillion yuan, an 8% increase year-on-year. The narrow money supply (M1) balance was 11.289 trillion yuan, a 4.9% increase year-on-year. The currency in circulation (M0) balance was 1.374 trillion yuan, a 10.6% increase year-on-year. The full report includes detailed statistics on the stock and increment of social financing, changes in broad and narrow money supply, deposits, loans, and interbank market rates in November 2025.