Chinese Economics Thread

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SanWenYu

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PBOC is changing definitions of its M1 and M2 tallies. Personal demand deposits and provisions by the non-banking payment institutions will be included in M1 starting in January 2025. These two are currently included in M2.

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据中国人民银行网站2日消息，央行决定自统计2025年1月份数据起，启用新修订的
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统计口径。修订后的M1包括：流通中货币（M0）、单位活期存款、个人活期存款、非银行支付机构客户备付金。
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此次M1统计口径修订，是在现行M1的基础上，进一步纳入个人活期存款、非银行支付机构客户备付金。个人活期存款和非银行支付机构客户备付金目前包含在M2中，尚未包含在M1中。
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