China: Money Supply - M2

Macro

2026-09-14

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

In Q3 2026 (August), China's M2 money supply climbed to 3,568,083.6 billion RMB, an increase of 13,006.36 billion RMB from the previous value, but the year-on-year growth rate slowed to 7.5%, missing expectations. During the same period, new RMB loans were only 60 billion yuan, highlighting that the real economy and the public's willingness to borrow for consumption remain sluggish. Looking ahead, the market expects the PBOC to strengthen coordination with fiscal policy to resolve the risk of a liquidity trap and stimulate domestic demand.

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AI Data Insight

In Q3 2026 (August), China's M2 money supply climbed to 3,568,083.6 billion RMB, an increase of 13,006.36 billion RMB from the previous value, but the year-on-year growth rate slowed to 7.5%, missing expectations. During the same period, new RMB loans were only 60 billion yuan, highlighting that the real economy and the public's willingness to borrow for consumption remain sluggish. Looking ahead, the market expects the PBOC to strengthen coordination with fiscal policy to resolve the risk of a liquidity trap and stimulate domestic demand.

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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