China: Money Supply (YoY) - M0

Macro

2026-09-14

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 Q3 2026 (August) currency in circulation (M0) year-on-year growth rate fell to 11.2%, a slight narrowing from the previous 11.6%. Against the backdrop of overall broad money (M2) growing by 7.5% YoY and a slowdown in new social financing, this reflects stable liquidity supply from the central bank, but actual credit demand in the market remains weak. Going forward, it is necessary to continue monitoring whether fiscal stimulus can effectively boost domestic demand to prevent funds from idling within the financial system.

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AI Data Insight

China's Q3 2026 (August) currency in circulation (M0) year-on-year growth rate fell to 11.2%, a slight narrowing from the previous 11.6%. Against the backdrop of overall broad money (M2) growing by 7.5% YoY and a slowdown in new social financing, this reflects stable liquidity supply from the central bank, but actual credit demand in the market remains weak. Going forward, it is necessary to continue monitoring whether fiscal stimulus can effectively boost domestic demand to prevent funds from idling within the financial system.

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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