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[Statistical Report on the Stock of Social Financing in August 2025] Preliminary statistics show that the stock of social financing reached 433.66 trillion yuan at the end of August 2025, an increase of 8.8% year-on-year. Of this total, the balance of RMB loans issued to the real economy was 265.42 trillion yuan, a year-on-year increase of 6.6%; the balance of foreign currency loans issued to the real economy in RMB equivalent was 1.19 trillion yuan, a year-on-year decrease of 21%; the balance of entrusted loans was 11.15 trillion yuan, a year-on-year decrease of 0.6%; the balance of trust loans was 4.49 trillion yuan, a year-on-year increase of 5.5%; the balance of undiscounted bank acceptance bills was 2.12 trillion yuan, a year-on-year decrease of 4.1%; the balance of corporate bonds was 33.47 trillion yuan, a year-on-year increase of 3.7%; the balance of government bonds was 91.36 trillion yuan, a year-on-year increase of 21.1%; and the balance of domestic stocks of non-financial enterprises was 11.99 trillion yuan, a year-on-year increase of 3.4%. From a structural perspective, at the end of August, the balance of RMB loans issued to the real economy accounted for 61.2% of the total social financing scale in the same period, down 1.2 percentage points year-on-year; the balance of foreign currency loans issued to the real economy converted into RMB accounted for 0.3%, down 0.1 percentage point year-on-year; the balance of entrusted loans accounted for 2.6%, down 0.2 percentage points year-on-year; the balance of trust loans accounted for 1%, down 0.1 percentage point year-on-year; the balance of undiscounted bank acceptance bills accounted for 0.5%, down 0.1 percentage point year-on-year; the balance of corporate bonds accounted for 7.7%, down 0.4 percentage points year-on-year; the balance of government bonds accounted for 21.1%, up 2.2 percentage points year-on-year; the balance of domestic stocks of non-financial enterprises accounted for 2.8%, down 0.1 percentage point year-on-year.