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Edition of record · 2026-08-14 · 当日完整版

PBOC data shows broad money growth slowing to 7.7%

央行数据显示广义货币增速放缓至7.7%

The People's Bank of China's monetary aggregates, released after an 18-day hold, show M2 growth easing to 7.7% year-on-year and M1 outstanding falling to 115.46 trillion yuan. No policy statement accompanied the data release. Equity markets were mixed: the Shanghai Composite fell 0.49%, while the ChiNext rose 1.12%. The yuan strengthened slightly against the dollar, with USD/CNY at 6.7302.

中国人民银行在暂停18天后公布的货币总量数据显示，M2同比增速放缓至7.7%，M1余额降至115.46万亿元。数据发布未伴随政策声明。 股市表现分化，上证综指下跌0.49%，而创业板指上涨1.12%。人民币对美元小幅走强，USD/CNY报6.7302。

· 3 signals · 3 with a reading · Frozen at the evening edition.

What changed since the prior edition

Against the Evening Snapshot of 19:01 Beijing time, this edition adds 1 new signal and carries 2 forward. New on the board: Typhoon Bailu makes a U-turn, bringing renewed rainfall.

Economy & Markets 经济与市场

0 new · 1 carried
Still on the board1 carried from earlier days

What's Trending 热点风向

2 new · 0 carried
Baidu · Social2 platforms

Pang Donglai store closure affects nearby vendors

胖东来闭店一天整条街没人出摊

Cross-platform appearance establishes public attention, not policy importance; relevance depends on corroborating official measures.

What to watch: A corroborating official document or implementation notice.

Source: Baidu

Deviation watchAgainst our own 30/90-day archive baselines

  • M0 Outstanding

    M0 Outstanding moved 14.74 → 14.82 after holding 18d

    3.0

  • M0 YoY

    M0 YoY moved 11.8 → 11.6 after holding 18d

    3.0

  • M1 Outstanding

    M1 Outstanding moved 118.48 → 115.46 after holding 18d

    3.0

  • M2 Outstanding

    M2 Outstanding moved 356.71 → 355.51 after holding 18d

    3.0

  • M2 YoY

    M2 YoY moved 8 → 7.7 after holding 18d

    3.0

  • RMB Deposits Outstanding

    RMB Deposits Outstanding moved 346.44 → 346.47 after holding 18d

    3.0
Market snapshot

SSE Composite 3927.177 ▼0.49% · Shenzhen Component 14354.306 ▼0.42% · ChiNext 3626.2964 ▲1.12% · USD/CNY 6.7302 ▼0.09% · USD/CNH 6.7423 ▼0.02%

Scheduled official releasesPublisher-stated dates; NBS calls this a plan
  • 2026-09-09

    Monthly Report on Consumer Price Index

    居民消费价格指数月度报告

  • 2026-09-09

    Monthly Report on Producer Price Index

    工业生产者价格指数月度报告

  • 2026-09-15

    Monthly Report on Commercial Residential Sales Price Index

    商品住宅销售价格指数月度报告

  • 2026-09-15

    Monthly Report on Energy Production

    能源生产情况月度报告

  • 2026-09-15

    Monthly Report on Fixed Asset Investment (Excluding Rural Households)

    固定资产投资（不含农户）月度报告

  • 2026-09-15

    Monthly Report on Industrial Production above Designated Size

    规模以上工业生产月度报告

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China Snapshot, a publication of CHINA SNAPSHOT LIMITED (Hong Kong). Edited by Tristan McInnis, Managing Partner, Inner Chapter, Shanghai. Chinese sources machine-translated by DeepSeek; interpretation drafted by a language model under our editorial standards; corrections to support@china-snapshot.com.