China’s broad money supply (M2) grew 9.0% year-over-year in February 2026, unchanged from the 9.0% year-over-year expansion recorded in January 2026. The data, updated on 13 March 2026, show that the pace of monetary expansion remained stable at the start of the year.
On a year-over-year basis, the February reading reflects the same rate of growth as the previous month, indicating no acceleration or deceleration in broad liquidity conditions. Both the “actual” February figure and the “previous” January figure compare each month’s M2 level against the corresponding month a year earlier, underscoring the continuity in China’s monetary backdrop across the first two months of 2026.
