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CN M2 Balance Hikes 7% YoY in End-Jan, Below Forecasts; RMB Deposit Balance Grows 5.8%
According to data released by the People's Bank of China, by the end of January, China's broad money (M2) balance grew by 7% YoY to RMB318.52 trillion, below the market exp...
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CN M2 Balance Hikes 7% YoY in End-Jan, Below Forecasts; RMB Deposit Balance Grows 5.8%
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According to data released by the People's Bank of China, by the end of January, China's broad money (M2) balance grew by 7% YoY to RMB318.52 trillion, below the market expectation of 7.3%. Its narrow money (M1) balance inched up by 0.4% YoY to RMB112.45 trillion, compared to the market's original expectation of a 0.5% decrease. The balance of money in circulation (M0) surged by 17.2% YoY to RMB14.23 trillion. The net cash injection for the month was RMB1.41 trillion.

In addition, RMB deposits increased by RMB4.32 trillion in January. By the end of January, the RMB deposit balance amounted to RMB306.55 trillion, marking a 5.8% YoY growth.

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