PBOC: Money Supply M2 up 12.4% YoY in April

The People's Bank of China (PBOC) data showed that at the end of April, the balance of broad money (M2) was 280.85 trillion yuan, up 12.4% year-on-year, compared with an estimate of 12.5% and the previous value of 12.7%. The balance of narrow money (M1) was 66.98 trillion yuan, up 5.3% year-on-year, with a growth rate 0.2 percentage point higher than both at the end of the previous month and a year earlier. The balance of currency in circulation (M0) was 10.59 trillion yuan, up 10.7% year-on-year. The net cash injection for the month was 31.3 billion.