Core Insights - The central bank's financial data report for July 2025 indicates a significant increase in monetary supply and social financing, reflecting improved market confidence and economic activity [1] Monetary Supply - As of the end of July, M2 balance reached 329.94 trillion yuan, with a year-on-year growth of 8.8%, an increase of 0.5 percentage points from the previous month [1] - M1 balance stood at 111.06 trillion yuan, showing a year-on-year growth of 5.6%, up by 1 percentage point from last month [1] - M0 balance experienced a year-on-year growth of 11.8% [1] Social Financing - The cumulative increase in social financing for the first seven months of 2025 was 23.99 trillion yuan, which is 5.12 trillion yuan more than the same period last year [1] - In July, the social financing increment was 1.13 trillion yuan, exceeding last year's figure by 361.3 billion yuan [1] Loans and Deposits - During the first seven months, new RMB loans increased by 12.87 trillion yuan [1] - New RMB deposits rose by 18.44 trillion yuan [1] Efficiency of Fund Circulation - The difference in growth rates between M1 and M2 was 3.2 percentage points, significantly narrowing compared to the peak in September of the previous year, indicating improved fund circulation efficiency [1] - Experts suggest that the narrowing "scissors difference" between M1 and M2 reflects enhanced liquidity and market confidence, aligning with the trend of economic recovery [1]

Core Viewpoint - In May, China's M0 money supply year-on-year growth rate reached 12.1%, an increase from the previous value of 12% [1] Group 1 - The M0 money supply growth indicates a strong liquidity environment in China, which may influence economic activities and consumer spending [1] - The increase in M0 could suggest a potential shift in monetary policy or a response to economic conditions [1]

中国3月M0货币供应年率 11.5%，前值9.7%。 ...