THE People's Bank of China (PBOC), the central bank, announced on Monday that it will implement a revised statistical scope for M1 starting from January 2025.
The revision of the M1 statistical scope will expand to include personal demand deposits and prepaid funds received by nonbank payment institutions, building on the existing M1 framework. M1 is a narrow measure of the money supply in an economy that includes currency and liquid assets that can be easily converted into cash.
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