According to the report, the data showed that by the end of February, the balance of M2 was 167.68 trillion yuan, up 8.2% year-on-year, and the growth rate was 0.9 and 3. 1 percentage point lower than that at the end of last month and the same period of last year, respectively, which was a record low. At present, the operation of money and credit is generally normal, and financial support for the real economy is stable.
According to preliminary accounting, in 20 17, the inter-bank business, bond investment, equity and other investments of financial institutions increased slightly year-on-year, and the growth rate of M2 decreased by more than 4 percentage points. The change of the subject of currency holders also confirms this point. At the end of 20 17, M2 held by financial institutions increased by 7.2%, which was lower than the overall growth rate of M2 1 percentage point.
Experts said that with the deepening of deleveraging, finance has further returned to serve the real economy, and the growth rate of M2 is lower than in the past, which may become the new normal. At the same time, with the deepening of market and financial innovation, the factors affecting the money supply are more complicated. For example, the rapid development of money market funds may continue to divert deposits. The measurability, controllability and correlation with economy of M2 have also declined, so it is unnecessary to pay too much attention to and interpret its changes.
I hope China's economic growth can be maintained!