AI Data Insight
In the third quarter of 2026 (September), the ratio of the tradable market capitalization of China's domestic listed companies to M2 dropped to 0.268, a significant pullback from 0.2826 in the previous month. Although broad money (M2) maintained a year-on-year growth of 7.2%, funds mostly flowed into time deposits rather than the stock market, leading to a divergence between liquidity and stock market performance. In the short term, close attention should be paid to whether official policies can guide the revitalization of capital.