TREE NEWS reports: China’s new yuan loans for January-September totaled 11.52 trillion yuan, up from 10.44 trillion yuan in the prior reading. September M2 money supply grew 7.2% year on year, slowing from 7.5% in the previous month, while M1 growth eased to 3.2% from 4.1%.
China Jan-Sep New Yuan Loans 11.52 Trillion Yuan; Sept M2 Up 7.2% YoY
AI take
The loan total is a cumulative flow, so the headline strength says more about the first three quarters than about September itself; the narrowing gap between M2 and M1 growth points to money sitting in deposits rather than circulating into transactions. That distinction matters for risk assets, including crypto and RWA markets, which have leaned on expectations of ample domestic liquidity. Whether M1 growth stabilizes or keeps easing is the open question for the next print.
Generated by AI for reference only.
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