AI Data Insight
Latest data indicates that the gap between China's M1 and M2 year-on-year growth rates in Q3 2026 (July) narrowed to -3.7%, a slight rebound from the previous value of -4.0%. Although the scissors difference has shrunk, it was primarily driven by a slowdown in M2 growth. The data remains deeply in negative territory, highlighting that the corporate "shift towards time deposits" and investment momentum have not yet fully recovered.