AI Data Insight
In May 2026, the balance of China's broad money (M2) reached 3,536,700 hundred million RMB, slightly increasing from the previous month and maintaining an 8.6% year-on-year growth rate, perfectly aligning with the market consensus expectation. Although the return of cross-border funds pushed up the M2 level and the rebound in the year-on-year growth rate of narrow money (M1) caused the "scissors gap" to narrow, the overall credit structure still reflects weak domestic demand. Future policy focus is expected to shift from aggregate easing to structural optimization to boost effective demand in the real economy.