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CHINA PRESS: PBOC Broadens M1 Money Supply Measure

CHINA PRESS
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The People's Bank of China will align with other central banks to include residential demand deposits and prepaid funds received by non-bank payment institutions into M1 calculations, starting in 2025, Xinhua News Agency reported. Given recent payment method developments, individuals can now use personal demand deposits for payment and transfer at any time without withdrawing cash. These deposits now have the same liquidity as corporate demand deposits and should therefore be included in M1, Xinhua reported, citing PBOC officials.

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The People's Bank of China will align with other central banks to include residential demand deposits and prepaid funds received by non-bank payment institutions into M1 calculations, starting in 2025, Xinhua News Agency reported. Given recent payment method developments, individuals can now use personal demand deposits for payment and transfer at any time without withdrawing cash. These deposits now have the same liquidity as corporate demand deposits and should therefore be included in M1, Xinhua reported, citing PBOC officials.