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
China closed 2025 with a record of 92 space launches and major breakthroughs were made in manned space launches, deep space exploration and commercial launches, according to the China National Space Administration.
"In 2025, we created a new launch record, sending more than 300 satellites into planned orbits. Both the number of launches and the number of payloads placed in orbit have achieved qualitative leapfrog development," said Zhu Haiyang, an engineer with the China Aerospace Science and Technology Corporation.
In 2025, the Shenzhou-20 crew spent 204 days in orbit, setting a new record for the longest single mission duration in the history of China's manned space program. Following the Shenzhou-20, the Shenzhou-21 achieved the fastest rendezvous and docking in the history of the Shenzhou mission in just three hours and a half.
Facing an unexpected technical situation with the Shenzhou-20 spacecraft, China immediately activated emergency plans. Within 16 days, a series of maneuvers were accomplished including the launch of the Shenzhou-22 backup vehicle, presenting a "textbook model" for the international space community in effectively responding to unexpected emergencies.
In deep space exploration, the Tianwen-2 probe embarked on its journey for China's first asteroid exploration and sample-return mission in 2025.
Last year also saw intensive launch activities from multiple commercial rocket types, injecting strong momentum into the country's commercial space development.
As China has kicked off the first year of its 15th Five-Year Plan (2026–2030), a new blueprint for the country's space program is unfolding. Multiple tests are planned in preparation for future lunar exploration, as Chang'e-7 lunar probe is scheduled to be launched for the lunar south pole to search for evidence of water ice. The industry is also preparing for the maiden flights of several new rocket types, which will include the challenges to test rocket recovery and reusability technologies.
China closes 2025 with record 92 space launches
China closes 2025 with record 92 space launches
