AI Data Insight
China's latest Q3 2026 M1 money supply year-over-year growth rate edged up to 4.1%, in line with market consensus expectations and a slight improvement from the previous 4.0%. However, new yuan loans during the same period were only 60 billion yuan, falling far short of the market estimate of 400 billion yuan. Under the dual pressures of a freeze in credit demand and the public's reluctance to borrow for consumption, the liquidity of the real economy continues to face severe challenges.