Year-on-year growth of M2, M1 and M0; %, December 2025 prelim.
China’s M0 currency in circulation grew 10.2% year on year at the end of 2025. M2 broad money grew 8.5%, while M1 narrow money grew 3.8%. The spread between the fastest and slowest rates was 6.4 percentage points. The aggregates remain nested, and the PBOC changed M1 coverage from January 2025, so the published M1 rate uses a comparable basis.
| Rank | Entry | Value | Period |
|---|---|---|---|
| 1 | M0 | 10.2% | December 2025 prelim. |
| 2 | M2 | 8.5% | December 2025 prelim. |
| 3 | M1 | 3.8% | December 2025 prelim. |
Publisher: National Bureau of Statistics of China
Dataset/table: Money supply growth by aggregate, December 2025
Units: year-on-year percent change
Date checked: 2026-07-18
Evidence: Supports the official year-on-year growth rates for China’s M2, M1 and M0 money aggregates at the end of 2025.
M2 contains M1, and M1 contains M0. The PBOC revised M1 coverage from January 2025, and the published 2025 M1 growth rate is on a comparable basis.
The source-published year-on-year rates for M2, M1 and M0 are compared directly. No sum or composition is produced because the monetary aggregates are nested.
All three rates use the same NBS release, December 2025 reference period and year-on-year percentage basis.
Keep the visible MarketStats attribution, source line and canonical page link intact. For clean unbranded assets, commercial use or higher-volume reuse, choose one of the licensing tiers below.
This specific graphic needs a source-rights review before an unbranded download. Branded use remains available.
* Free branded use is subject to the Terms and requires attribution/canonical-link preservation. MarketStats licenses the graphic presentation and MarketStats-created editorial layer, not the underlying third-party source data. Source attribution and source-provider obligations still apply.
