China: Money Supply - M2

Macro

2026-10-14

Description

China Money Supply - M2 is compiled and published by the People's Bank of China (PBOC) to measure the broad money supply within the economy. M2 includes cash in circulation (M0), corporate demand deposits (M1), as well as time deposits and other quasi-monetary forms of funds. M2 is an important indicator for reflecting the overall money supply in the economy, and it is key for assessing the banking system's liquidity, credit creation capability, and potential for economic growth. Growth in M2 typically indicates credit expansion and increased economic activity, while a decline in M2 may suggest credit tightening or a slowdown in economic activity.

Published by
People's Bank of China (Choice)
Frequency
Monthly
Next Update
Hashtags
China Finance M2

AI Data Insight

China's broad money supply (M2) balance rose to nearly 359.63 trillion RMB in September, but its YoY growth rate dropped to 7.2%, missing expectations and highlighting the lack of significant results from the central bank's liquidity injection. Meanwhile, the M1-M2 scissors gap widened significantly to 4.0 percentage points, reflecting severe funds stagnation within the financial system. The liquidity "barrier lake" phenomenon will be difficult to resolve in the short term, and close attention must be paid to the substantial progress of fiscal stimulus and the bottoming out of the real estate sector.

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AI Data Insight

China's broad money supply (M2) balance rose to nearly 359.63 trillion RMB in September, but its YoY growth rate dropped to 7.2%, missing expectations and highlighting the lack of significant results from the central bank's liquidity injection. Meanwhile, the M1-M2 scissors gap widened significantly to 4.0 percentage points, reflecting severe funds stagnation within the financial system. The liquidity "barrier lake" phenomenon will be difficult to resolve in the short term, and close attention must be paid to the substantial progress of fiscal stimulus and the bottoming out of the real estate sector.

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Description

China Money Supply - M2 is compiled and published by the People's Bank of China (PBOC) to measure the broad money supply within the economy. M2 includes cash in circulation (M0), corporate demand deposits (M1), as well as time deposits and other quasi-monetary forms of funds. M2 is an important indicator for reflecting the overall money supply in the economy, and it is key for assessing the banking system's liquidity, credit creation capability, and potential for economic growth. Growth in M2 typically indicates credit expansion and increased economic activity, while a decline in M2 may suggest credit tightening or a slowdown in economic activity.

Published by
People's Bank of China (Choice)
Frequency
Monthly
Next Update
Hashtags
China Finance M2