PBOC: At the end of November, the broad money supply (M2) stood at RMB 336.99 trillion, up 8% year-on-year.
At the end of November, the broad money supply (M2) stood at 336.99 trillion yuan, representing a year-on-year increase of 8%. The narrow money supply (M1) reached 112.89 trillion yuan, up 4.9% year-on-year. The currency in circulation (M0) amounted to 13.74 trillion yuan, marking a year-on-year growth of 10.6%.
Are interest rate cuts and reserve requirement reductions imminent? The Central Economic Work Conference sets a clear direction for a more proactive fiscal policy and moderately accommodative monetary policy in 2026.
At the annual Central Economic Work Conference held in Beijing, China's top leadership announced the overall direction of fiscal and monetary policy for 2026, emphasizing the implementation of a more proactive fiscal policy and a moderately accommodative monetary policy. The focus will be on stabilizing growth, preventing risks, expanding domestic demand, and promoting high-quality development. The conference reviewed the economic performance of 2025, assessed the current domestic and international situation, and identified key policy tasks to lay the groundwork for the opening year of the '15th Five-Year Plan.'
Onshore Yuan Strengthens After PBOC's Currency Fixing at 14-Month High -- Market Talk
National Bureau of Statistics: CPI increased by 0.7% year-on-year in November 2025.
In November 2025, the national consumer price index increased by 0.7% year-on-year.
National Bureau of Statistics: CPI up 0.7% year-on-year in November, PPI up 0.1% month-on-month.
① In November, the national consumer price index (CPI) increased by 0.7% year-on-year; ② In November, the producer price index (PPI) for industrial producers rose by 0.1% month-on-month and fell by 2.2% year-on-year; ③ Official interpretation: The year-on-year increase in the CPI for November 2025 expanded, with core CPI continuing to rise.
China's Trade Surplus Tops $1 Trillion For First Time in November