Group 1 - The People's Bank of China reported that as of the end of May, the broad money supply (M2) reached 325.78 trillion yuan, with a year-on-year growth of 7.9% [1] - The narrow money supply (M1) stood at 108.91 trillion yuan, showing a year-on-year increase of 2.3% [1] - In the first five months of the year, a net cash injection of 306.4 billion yuan was recorded [1] Group 2 - As of the end of May, the balance of RMB loans was 266.32 trillion yuan, reflecting a year-on-year growth of 7.1% [1] - In the first five months, RMB loans increased by 1.068 trillion yuan, with household loans rising by 57.24 billion yuan [1] - Corporate loans increased by 980 billion yuan, while non-bank financial institution loans rose by 13.57 billion yuan [1] Group 3 - The chief economist of China Minsheng Bank noted that the M2 growth rate remained stable while M1 growth accelerated, indicating a significant increase in "liquid money" [1] - A package of financial support measures from the central bank has effectively boosted market confidence, leading to signs of recovery in investment and consumption activities [1] - The ongoing debt resolution process and the allocation of fiscal funds have provided support for related enterprises' demand for current deposits [1] Group 4 - The credit issuance in May showed similarities to the beginning of the season, with effective financing demand not yet significantly improving amid external uncertainties [2] - A package of financial support policies was introduced on May 7, including interest rate cuts and the optimization of structural monetary policy tools, which are beneficial for stabilizing credit expansion [2] - Despite the influence of debt replacement effects, the loan growth rate in May remained around 8% when excluding the impact of local debt replacement [2]
5月末中国M2同比增长7.9%
Zhong Guo Xin Wen Wang·2025-06-13 15:33