The China Center for Cooperation on Special Economic Zones in BRICS Countries was officially inaugurated on Friday in Hangzhou, the capital of Zhejiang Province in eastern China.
The Center is the first platform mechanism personally announced by Chinese President Xi Jinping in the field of BRICS economic and trade cooperation.
It will focus on key areas such as economic and trade collaboration, standard alignment, and institutional innovation, striving to become a pivotal platform for promoting economic and trade cooperation and exchanges between China and other BRICS countries.
Furthermore, the Center aims to evolve into a new platform supporting the advancement of high-level institutional opening-up.
China Center for Cooperation on Special Economic Zones in BRICS Countries inaugurated in Hangzhou
China's outstanding aggregate social financing -- the total amount of financing to the real economy -- reached 442.12 trillion yuan (about 63.4 trillion U.S. dollars) as of the end of 2025, up 8.3 percent year on year, central bank data showed on Thursday.
The country's aggregate social financing stood at 35.6 trillion yuan (about 5.1 trillion U.S. dollars) in 2025, up by 3.34 trillion yuan (about 479 billion U.S. dollars) from the year 2024, said the People's Bank of China (PBOC), the country's central bank.
According to the data, the M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.5 percent year on year to 340.29 trillion yuan (about 48.8 trillion U.S. dollars) as of the end of December.
In addition, outstanding yuan loans stood at 271.91 trillion yuan (about 39 trillion U.S. dollars) at the end of 2025, up 6.4 percent year on year.
China's aggregate social financing maintains high growth in 2025
