May 2026 central-bank data, reported by Xinhua on the Chinese government's English website on June 12, put broad money supply M2 at 353.67 trillion yuan, up 8.6% from a year earlier. M1 stood at 114.89 trillion yuan, an increase of 5.5%.
Outstanding aggregate financing for the real economy was 458.81 trillion yuan, up 7.7%. The financing added during January-May was 17.48 trillion yuan, 1.16 trillion yuan below the same period of 2025.
These figures distinguish the amount outstanding at month-end from the financing added over five months. Different growth rates do not by themselves prove a liquidity trap, a consumer boycott or changes in money velocity. This brief retains the dated statistics and removes those unsupported diagnoses.
Editorial update, October 9, 2026: This archived brief has been checked against the verification sources below. The original publication date is retained; subsequent information is identified separately.
Verification sources: https://english.www.gov.cn/archive/statistics/202606/12/content_WS6a2c24c3c6d00ca5f9a0b8f3.html