China M2 Money Supply
China M2 money supply (CNY, monthly, ends 2019)
| Property | Value |
|---|---|
| Category | macro |
| Unit | CNY |
| Resolution | 1d |
| Assets | MACRO |
| Tier | Basic |
| API Endpoint | GET /v1/macro/monetary |
| Field | china_m2 |
Overview
China M2 broad money supply, in local currency (yuan), monthly frequency. M2 includes cash, demand deposits, and savings deposits. Note: the underlying FRED series (MYAGM2CNM189N) was discontinued in 2019, so the data is frozen at that point and used primarily for historical analysis.
Interpretation
- Rising China M2: aggressive PBoC stimulus, often associated with Chinese economic expansion and global liquidity.
- Falling or stagnating M2 growth: tighter Chinese conditions, often a leading drag on global growth.
- Periods of large divergence between China M2 and US M2 have historically marked global liquidity-cycle inflection points.
Use Cases
- Combine with US
macro_m2_nsaandmacro_fed_balance_sheetto build a multi-regional liquidity composite for BTC. - Compare Chinese liquidity expansion against
macro_usdcnyto detect regime shifts. - Use as a historical input — current Chinese liquidity must be sourced elsewhere given the 2019 discontinuation.
API Usage
curl -H "Authorization: Bearer YOUR_API_KEY" \
"https://api.blocklens.co/v1/macro/monetary?start_date=2024-01-01&end_date=2024-12-31&limit=365"
Related Metrics
- M2 Money Stock (NSA) — M2 money stock, not seasonally adjusted ($B, weekly)
- USD/CNY — US Dollar to Chinese Yuan exchange rate (daily)
- Fed Balance Sheet — Federal Reserve total assets ($M, weekly)
- ECB Total Assets — European Central Bank total assets (€M, weekly)