It refers to financial products with certain risks that investors deposit legally held RMB or foreign currency funds in banks and banks embed financial derivatives (including but not limited to forwards, swaps, options or futures). On the basis of ordinary deposits, investors' income is linked to financial or non-financial entities such as interest rates, exchange rates, stock prices, commodity prices, credit and indexes.

M 1:m 1 = M0+ checking deposits of enterprises and institutions+infrastructure deposits. M 1, also known as narrow money, consists of cash (M0) circulating outside the banking system and bank demand deposits. Among them, demand deposits can be realized at any time, so their liquidity and purchasing power are no less than cash.