China’s M2 balance, a measure of broad money supply, increased by 11.3% year-on-year, according to the official website of the People’s Bank of China. The financial statistics report for the first half of 2023 reveals that the M2 balance at the end of June reached 287.3 trillion yuan.
Additionally, in June, the social financing scale in China rose by 4.22 trillion yuan, estimated at 3.1 trillion yuan. This increase is significantly higher than the previous value of 1.5556 trillion yuan. Moreover, new RMB loans in June amounted to 3.05 trillion yuan, with an estimated value of 2.3 trillion yuan. This marks a substantial increase from the previous value of 1.36 trillion yuan.
These financial data indicate a significant uptick in monetary expansion in China. The increase in broad money supply suggests that there is a higher availability of funds in the economy. This could potentially fuel economic growth and stimulate investment in various sectors.
The surge in the social financing scale also implies increased borrowing and lending activities within the economy. This could contribute to the expansion of businesses and investment projects, leading to job creation and economic development.
China’s financial statistics report for the first half of 2023 highlights the robust growth in monetary indicators, signaling positive economic prospects for the country. However, there may also be concerns about inflationary pressures and the sustainability of such rapid monetary expansion.
These figures provide essential insights into the current state of China’s economy and will serve as valuable information for policymakers and analysts evaluating the country’s overall financial health.
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