China’s broad money supply (M2) growth slowed slightly in September 2026, suggesting a modest easing in overall liquidity conditions. According to data updated on 14 October 2026, M2 rose 7.2% year-over-year in September, down from a 7.5% year-over-year increase recorded in August 2026.
Both figures are calculated on a year-over-year basis, comparing each month with the same period a year earlier. The three-tenths percentage point deceleration in September indicates that while money supply is still expanding at a solid pace, the momentum has weakened compared with the previous month. Investors and analysts tracking China’s monetary environment may view the slower M2 growth as a sign of slightly tighter financial conditions or more cautious credit creation heading into the final quarter of the year.
