M1 growth rate decline narrows, the first time this year

Jinshi data, November 11th news, the growth rate of Narrow Money (M1) narrowed for the first time this year. At the end of October, the balance of M1 was 63.34 trillion yuan, a decrease of 6.1% year-on-year. Experts believe that the marginal rebound in M1 growth rate reflects not only the steady improvement of economic activity under the background of accelerated incremental policies, but also the benefit from the increased risk preference of investors in the financial market. Market participants expect that with the further manifestation of the effect of support from a series of incremental policies in the near future, the growth rate of M1 is expected to stabilize. Recently, in the third quarter of 2024, the Central Bank’s monetary policy execution report analyzed the statistical system of monetary supply, and it is expected that after the optimization of relevant statistical calibers, the M1 statistics will be more complete and scientific, and better adapt to the development trend of financial markets and financial innovation.