[Shanghai Headquarters of the People's Bank of China: The scale of social financing in Shanghai increased by 969.3 billion yuan in the first three quarters] On October 29, the Shanghai Headquarters of the People's Bank of China held a press conference for the fourth quarter of 2026 and a special press conference on Shanghai Finance's "Five Big Articles". According to disclosures, in the first three quarters, Shanghai’s social financing scale increased by 969.3 billion yuan. From a structural perspective, the city's RMB loans to the real economy increased by 445.8 billion yuan. Direct financing increased by 360.5 billion yuan, accounting for 37.2% of the increase in social financing, a year-on-year increase of 10.1 percentage points. Among them, corporate bond financing increased by 266.1 billion yuan, an increase of 120.1 billion yuan year-on-year; local government bond financing increased by 58.6 billion yuan, a decrease of 53.6 billion yuan year-on-year; stock financing increased by 35.8 billion yuan, an increase of 10.4 billion yuan year-on-year. Off-balance sheet financing such as entrusted loans, trust loans and undiscounted bank acceptance bills increased by 49.4 billion yuan, a decrease of 108.8 billion yuan year-on-year.