China: Money Supply (YoY) - M0

Macro

2026-08-14

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 newly released Q3 2026 M0 year-over-year growth rate reached 11.6%. Although it slightly retreated from 11.8% in the previous Q2 2026 period, it remains at a double-digit level. Contrasted with the weak growth in broad money (M2) and slowing credit demand, this highlights a strong defensive mindset among enterprises and the public, indicating that liquidity has not yet effectively translated into momentum for the real economy.

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AI Data Insight

China's newly released Q3 2026 M0 year-over-year growth rate reached 11.6%. Although it slightly retreated from 11.8% in the previous Q2 2026 period, it remains at a double-digit level. Contrasted with the weak growth in broad money (M2) and slowing credit demand, this highlights a strong defensive mindset among enterprises and the public, indicating that liquidity has not yet effectively translated into momentum for the real economy.

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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