18 December 2018

China M1 growth down sharply at 1.2% in January, paper says

China’s M1, a narrow measure of money supply, was up only 1.2 percent from a year earlier at 31.49 trillion yuan (US$5.19 trillion) at the end of January, the National Business Daily reported Monday, citing data from the People’s Bank of China. The growth was 8.2 points less than the increase at the end of 2013 and 14.1 points less compared with the rise in January 2013. Everbright Securities Co. Ltd. (601788.CN) attributed the sharp decline in M1 growth to the large increase in term deposits by firms, which added more than 1.5 trillion yuan, suggesting companies were not very optimistic about the future, the report said.

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