8月社融金融数据点评:银行行业:社融过峰,信贷偏弱

东兴证券
Sep 15, 2025

(以下内容从东兴证券《8月社融金融数据点评:银行行业:社融过峰,信贷偏弱》研报附件原文摘录)事件:9月12日,中国人民银行发布8月社融与金融数据。8月末,存量社融同比+8.8%;M2同比+8.8%、M1同比+6.0%;人民币贷款同比+6.8%、存款同比+8.6%;8月人民币贷款新增5900亿元,人民币存款新增2.06万亿。点评:(一)高基数下政府债对社融拉动作用减弱,社融增速环比下降。8月末社融...

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