China: Money Supply - M0

Macro

2026-07-16

Description

China Money Supply - M0 is compiled and published by the People's Bank of China (PBOC) and measures the total amount of cash in circulation. M0 is the most basic level of money supply and generally reflects changes in cash demand within the economy. It serves as an important indicator for observing the implementation of monetary policy and liquidity management. Growth in M0 typically indicates rising cash demand, reflecting increased consumption and transaction activities, while a decline in M0 may suggest weakened cash demand or reduced economic activity.

Published by
People's Bank of China (Choice)
Frequency
Monthly
Next Update
Hashtags
China Finance M0

AI Data Insight

China's latest released Q2 M0 money supply reached 14.7364 trillion RMB, showing steady expansion compared to the previous value of 14.69 trillion RMB. However, while M0 grew mildly, the scissors gap between M1 and M2 indicates that real economy funds still tend to settle in time deposits. The market expects the People's Bank of China to continue rolling out easing policies such as interest rate and RRR cuts to unclog the monetary transmission mechanism and stimulate domestic demand.

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AI Data Insight

China's latest released Q2 M0 money supply reached 14.7364 trillion RMB, showing steady expansion compared to the previous value of 14.69 trillion RMB. However, while M0 grew mildly, the scissors gap between M1 and M2 indicates that real economy funds still tend to settle in time deposits. The market expects the People's Bank of China to continue rolling out easing policies such as interest rate and RRR cuts to unclog the monetary transmission mechanism and stimulate domestic demand.

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Macro
Description

China Money Supply - M0 is compiled and published by the People's Bank of China (PBOC) and measures the total amount of cash in circulation. M0 is the most basic level of money supply and generally reflects changes in cash demand within the economy. It serves as an important indicator for observing the implementation of monetary policy and liquidity management. Growth in M0 typically indicates rising cash demand, reflecting increased consumption and transaction activities, while a decline in M0 may suggest weakened cash demand or reduced economic activity.

Published by
People's Bank of China (Choice)
Frequency
Monthly
Next Update
Hashtags
China Finance M0