China's major financial indicators in April grew at a faster pace than in March, providing powerful support for the real economy, as indicated by central bank data released on Wednesday.
According to the People's Bank of China (PBOC), China's outstanding aggregate financing to the real economy (AFRE), the total amount of financing to the real economy, reached 424 trillion yuan (about 58.84 trillion U.S. dollars) at the end of April, marking an 8.7 percent increase on a yearly basis.
The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased by eight percent year on year to around 325 trillion yuan at the end of April.
China issued 10.06 trillion yuan in new yuan-denominated loans in the first four months of 2025.
In April, inclusive small and micro loans, and medium- and long-term loans in the manufacturing industry increased by 11.9 percent and 8.5 percent year on year, respectively, both higher than the average growth rate of various loans in the same period.
In the same month, the weighted average interest rate for new business loans declined about four basis points from March to about 3.2 percent, maintaining a historically low level.

April financial data indicates China's commitment to strengthening real economy