[People's Bank of China: Interest rates for corporate loans and personal housing loans decreased year-on-year in September] The People's Bank of China released the Q3 2025 China Monetary Policy Implementation Report. Data shows that as of the end of September, the stock of social financing and the broad money supply (M2) increased by 8.7% and 8.4% year-on-year, respectively, with the balance of RMB loans reaching 270.4 trillion yuan. The interest rates for newly issued corporate loans and personal housing loans in September decreased by approximately 40 basis points and 25 basis points year-on-year, respectively, with continued optimization of the credit structure. The RMB exchange rate remained generally stable, with the central parity rate of the RMB against the US dollar appreciating by 1.2% compared to the end of the previous year as of the end of September.