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信息量很大!央行发布重要报告,专家解读→
Di Yi Cai Jing Zi Xun· 2025-08-14 01:31
Group 1 - The central bank reported that as of the end of July, the broad money supply (M2) reached 329.94 trillion yuan, with a year-on-year growth of 8.8%, while the narrow money supply (M1) was 111.06 trillion yuan, growing by 5.6% [1] - The difference in growth rates between M2 and M1 is 3.2%, which has significantly narrowed compared to the peak in September of the previous year [1] - The narrowing of the M2-M1 gap indicates an increase in the liquidity of funds and improved circulation efficiency, reflecting the effectiveness of policies aimed at stabilizing the market and boosting confidence [1] Group 2 - M1 primarily represents the operating funds of enterprises, with large enterprises typically having strong financing capabilities and focusing on the efficiency and profitability of fund usage [2] - In contrast, small and medium-sized enterprises (SMEs) tend to reserve more operating funds to cope with uncertainties, which can affect M1 growth [2] - The competition in certain sectors has led to large enterprises delaying payments to SMEs, which occupies a portion of the funds that could otherwise be used for operational liquidity, thereby impacting M1 growth [2]