China M2 Money Supply

Name: China M2 Money Supply — Monthly Series (PBOC)
Creator: People's Bank of China

¥359.63 Trillion · +7.23% YoY

End of September 2026 · PBOC monetary statistics

China's M2 money supply reached ¥359.63 trillion at the end of September 2026, growing 7.23% year on year, according to the People's Bank of China. This page tracks the full monthly PBOC series since December 1999: end-of-period balances, year-over-year growth, historical tables and monthly release notes.

Historical Monthly Data (December 1999–September 2026)

2026

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	347.19	9.00
February	349.22	9.00
March	353.86	8.50
April	353.04	8.60
May	353.67	8.60
June	356.71	8.00
July	355.51	7.70
August	356.81	7.48
September	359.63	7.23

2025

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	318.52	7.00
February	320.52	7.00
March	326.06	7.00
April	325.17	8.00
May	325.78	7.90
June	330.29	8.30
July	329.94	8.80
August	331.98	8.80
September	335.38	8.40
October	335.13	8.20
November	336.99	8.00
December	340.29	8.50

2024

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	297.63	8.70
February	299.56	8.70
March	304.80	8.30
April	301.19	7.20
May	301.85	7.00
June	305.02	6.20
July	303.31	6.30
August	305.05	6.30
September	309.48	6.80
October	309.71	7.50
November	311.96	7.10
December	313.53	7.30

2023

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	273.81	12.60
February	275.52	12.90
March	281.46	12.70
April	280.85	12.40
May	282.05	11.60
June	287.30	11.30
July	285.40	10.70
August	286.93	10.60
September	289.67	10.30
October	288.23	10.30
November	291.20	10.00
December	292.27	9.70

2022

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	243.10	9.80
February	244.15	9.20
March	249.77	9.70
April	249.97	10.50
May	252.70	11.10
June	258.15	11.40
July	257.81	12.00
August	259.51	12.20
September	262.66	12.10
October	261.29	11.80
November	264.70	12.40
December	266.43	11.80

2021

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	221.30	9.40
February	223.60	10.10
March	227.65	9.40
April	226.21	8.10
May	227.55	8.30
June	231.78	8.60
July	230.22	8.30
August	231.23	8.20
September	234.28	8.30
October	233.62	8.70
November	235.60	8.50
December	238.29	9.00

2020

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	202.31	8.40
February	203.08	8.80
March	208.09	10.10
April	209.35	11.10
May	210.02	11.10
June	213.49	11.10
July	212.55	10.70
August	213.68	10.40
September	216.41	10.90
October	214.97	10.50
November	217.20	10.70
December	218.68	10.10

2019

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	186.59	8.40
February	186.74	8.00
March	188.94	8.60
April	188.47	8.50
May	189.12	8.50
June	192.14	8.50
July	191.94	8.10
August	193.55	8.20
September	195.23	8.40
October	194.56	8.40
November	196.14	8.20
December	198.65	8.70

2018

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	172.08	8.60
February	172.91	8.80
March	173.99	8.20
April	173.77	8.30
May	174.31	8.30
June	177.02	8.00
July	177.62	8.50
August	178.87	8.20
September	180.17	8.30
October	179.56	8.00
November	181.32	8.00
December	182.67	8.10

2017

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	158.42	11.30
February	158.99	11.10
March	160.79	10.60
April	160.39	10.50
May	160.97	9.60
June	163.95	9.40
July	163.63	9.20
August	165.29	8.90
September	166.37	9.20
October	166.24	8.80
November	167.92	9.10
December	169.02	8.20

2016

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	141.63	14.00
February	142.46	13.30
March	144.62	13.40
April	144.52	12.80
May	146.17	11.80
June	149.05	11.80
July	149.16	10.20
August	151.10	11.40
September	151.64	11.50
October	151.95	11.60
November	153.04	11.40
December	155.01	11.30

2015

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	124.27	10.80
February	125.74	12.50
March	127.53	11.60
April	128.08	10.10
May	130.74	10.80
June	133.34	11.80
July	135.32	13.30
August	135.69	13.30
September	135.98	13.10
October	136.10	13.50
November	137.40	13.70
December	139.23	13.30

2014

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	112.35	13.20
February	113.18	13.30
March	116.07	12.10
April	116.88	13.20
May	118.23	13.40
June	120.96	14.70
July	119.42	13.50
August	119.75	12.80
September	120.21	12.90
October	119.92	12.60
November	120.86	12.30
December	122.84	12.20

2013

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	99.21	15.90
February	99.86	15.20
March	103.59	15.70
April	103.26	16.10
May	104.22	15.80
June	105.44	14.00
July	105.22	14.50
August	106.13	14.70
September	107.74	14.20
October	107.02	14.30
November	107.93	14.20
December	110.65	13.60

2012

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	85.59	12.40
February	86.72	13.00
March	89.56	13.40
April	88.96	12.80
May	90.00	13.20
June	92.50	13.60
July	91.91	13.90
August	92.49	13.50
September	94.37	14.80
October	93.64	14.10
November	94.48	13.90
December	97.41	13.80

2011

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	73.39	17.20
February	73.61	15.70
March	75.81	16.60
April	75.74	15.30
May	76.34	15.10
June	78.08	15.90
July	77.29	14.70
August	78.09	13.60
September	78.74	13.00
October	81.68	12.90
November	82.55	12.70
December	85.16	13.60

2010

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	62.56	26.00
February	63.61	25.50
March	64.99	22.50
April	65.66	21.50
May	66.34	21.00
June	67.39	18.50
July	67.41	17.60
August	68.75	19.20
September	69.65	19.00
October	69.98	19.30
November	71.03	19.50
December	72.59	19.70

2009

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	49.61	18.80
February	50.67	20.50
March	53.06	25.50
April	54.05	26.00
May	54.83	25.70
June	56.89	28.50
July	57.31	28.40
August	57.67	28.50
September	58.54	29.30
October	58.66	29.40
November	59.46	29.70
December	61.02	27.70

2008

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	41.78	18.90
February	42.10	17.40
March	42.31	16.20
April	42.93	16.90
May	43.62	18.10
June	44.31	17.40
July	44.64	16.40
August	44.88	16.00
September	45.29	15.30
October	45.31	15.00
November	45.86	14.80
December	47.52	17.80

2007

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	35.15	15.80
February	35.87	17.80
March	36.41	17.30
April	36.73	17.10
May	36.97	16.70
June	37.78	17.10
July	38.39	18.50
August	38.72	18.10
September	39.31	18.50
October	39.42	18.50
November	39.98	18.50
December	40.34	16.70

2006

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	30.36	19.20
February	30.45	18.80
March	31.05	18.80
April	31.37	18.90
May	31.67	19.10
June	32.28	18.40
July	32.40	18.40
August	32.79	17.90
September	33.19	16.80
October	33.27	17.10
November	33.75	16.80
December	34.56	16.90

2005

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	25.77	14.10
February	25.94	13.90
March	26.46	14.00
April	26.70	14.10
May	26.92	14.70
June	27.58	15.70
July	27.70	16.30
August	28.13	17.30
September	28.74	17.90
October	28.76	18.00
November	29.24	18.30
December	29.88	17.60

2004

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	22.51	18.10
February	22.71	19.40
March	23.17	19.10
April	23.36	19.10
May	23.48	17.50
June	23.84	16.20
July	23.48	15.30
August	23.97	13.60
September	24.38	13.90
October	24.37	13.50
November	24.71	14.00
December	25.32	14.60

2003

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	18.89	19.30
February	18.84	18.10
March	19.28	18.50
April	19.45	19.20
May	19.78	20.20
June	20.31	20.80
July	20.44	20.70
August	20.87	21.60
September	21.16	20.70
October	21.25	21.00
November	21.44	20.40
December	21.92	19.60

2002

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	15.79	13.10
February	15.92	13.00
March	16.23	14.40
April	16.28	14.10
May	16.43	14.00
June	16.79	14.70
July	16.91	14.40
August	17.15	15.50
September	17.53	16.50
October	17.55	17.00
November	17.80	16.60
December	18.32	16.80

2001

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	14.62	13.50
February	13.44	12.00
March	13.69	13.20
April	13.81	12.80
May	13.72	12.10
June	14.19	14.30
July	14.01	13.50
August	14.38	13.60
September	14.62	16.40
October	14.62	12.90
November	14.72	17.60
December	15.29	14.40

2000

Month	M2 Balance (¥ trillion)	YoY Growth (%)
January	12.74	14.90
February	11.94	12.80
March	12.04	13.00
April	12.19	13.70
May	12.19	12.70
June	12.45	13.70
July	12.42	13.40
August	12.57	13.30
September	12.84	13.40
October	12.74	12.30
November	12.89	12.40
December	13.25	12.30

1999

Month	M2 Balance (¥ trillion)	YoY Growth (%)
December	11.76	14.70

Monthly Release Notes

China's Money Growth Slows in November, Narrowing Interest Rate Spread Signals Economic RecoveryData period: November 2025

About China M2 Money Supply

M2 (broad money) is the People's Bank of China's broadest headline monetary aggregate. It covers M0 (currency in circulation) plus corporate demand deposits, household savings and time deposits, and other deposits held with banks.

Figures are end-of-period monthly stocks. The table below lists every month from December 1999 through September 2026; balances are shown in trillions of yuan (¥ tn) and growth rates are year-on-year percent changes. The monthly series starts in December 1999, the base period of the published growth series.

The PBOC publishes monetary statistics around the middle of each month. BigMacroData ingests each release and updates this page automatically; per-release commentary is available in the news archive below.

Frequently Asked Questions

What is China's M2 money supply?

M2 is the broadest headline money aggregate published by the People's Bank of China. It covers currency in circulation plus corporate, household and other deposits with banks. As of September 2026, China's M2 stood at ¥359.63 trillion, up 7.23% year on year.

What was China's M2 at the end of 2025?

At the end of December 2025, China's M2 money supply was ¥340.29 trillion, representing year-on-year growth of 8.50%, according to PBOC monthly monetary statistics.

How fast is China's M2 growing in 2026?

In September 2026 — the latest available month — China's M2 grew 7.23% year on year. Growth rates for every month since 1999 are listed in the historical table above.

How often does the PBOC release M2 data?

Monthly. The People's Bank of China publishes money supply statistics (M0, M1 and M2) around the middle of each month, covering the previous month's end-of-period balances.

Where does this data come from?

All figures come from the PBOC's monthly monetary statistics releases. BigMacroData converts the series into a machine-readable table and republishes it with source attribution.