The scissors difference phenomenon between M1 and M2 has been alleviated

Jinshi data on February 14th, Central Bank has been using the newly revised M1 statistical caliber since January 2025, and at the same time, the Central Bank also announced the comparable balance and growth rate of M1 at the end of each month in 2024 retroactively according to the comparable caliber. After the new two statistics are included, the scissor difference between M1 and M2 has eased, except for January, the year-on-year growth rate of M1 at the end of each month in 2024 generally rose by about 1-4 percentage points.

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