AI Data Insight
China's narrow money supply (M1) YoY growth for October 2026 (Q4) climbed to 4.4%, a significant jump from the previous 3.2%, indicating a recovery in corporate demand deposit momentum. Benefiting from the PBOC's easing stimulus at the end of September, market liquidity is gradually being released. However, real credit demand remains weak, and attention must be paid to the continuity of policy transmission and the actual effectiveness in boosting consumption.