China: Broad money (annual % growth)

Key figures

What the numbers say

In 2024, China's broad money (annual % growth) fell 3.04 percentage points on 2023 (from 9.85% to 6.81%).

Across the 30 yearly changes before that (1994 to 2023), the average change was −1.23 percentage points and a typical year strayed about 4.75 percentage points from that (the standard deviation). This year's change was 0.4 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 45.59 percentage points in 1979 and the biggest yearly fall was 23.39 percentage points in 1980. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 there is no clear straight-line trend: a straight line explains 15% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, China had the 22nd highest value of the 32 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to China in the 2024 ranking

• Czechia — 18th of 32: 7.35%
• Timor-Leste — 19th of 32: 7.3%
• West Bank and Gaza — 20th of 32: 7.1%
• Korea, Rep. — 22nd of 32: 6.55%
• Albania — 23rd of 32: 5.12%
• Botswana — 24th of 32: 4.8%

What this measures

Broad money is the sum of all liquid financial instruments held by money-holding sectors that are widely accepted in an economy as a medium of exchange, plus those that can be converted into a medium of exchange at short notice at, or close to, their full nominal value. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.

Limitations: Monetary accounts are derived from the balance sheets of financial institutions - the central bank, commercial banks, and nonbank financial intermediaries. Although these balance sheets are usually reliable, they are subject to errors of classification, valuation, and timing and to differences in accounting practices. For example, whether interest income is recorded on an accrual or a cash basis can make a substantial difference, as can the treatment of nonperforming assets. Valuation errors typically arise for foreign exchange transactions, particularly in countries with flexible exchange rates or in countries that have undergone currency devaluation during the reporting period.

All 47 values

Broad money (annual % growth) in nearby economies

• Australia — 6.66% (2025)
• Brunei Darussalam — 2.15% (2025)
• Cambodia — 12.9% (2025)
• Fiji — 8.76% (2023)
• Hong Kong SAR, China — 11.21% (2025)
• Indonesia — 9.6% (2025)
• Japan — 0.6% (2025)
• Korea, Rep. — 6.55% (2024)
• Macao SAR, China — 7.5% (2025)
• Malaysia — 4.6% (2025)
• Micronesia, Fed. Sts. — 15.42% (2021)

More financial sector data for China

• GDP deflator (base year varies by country) — 104.18 (2025)
• DEC alternative conversion factor (LCU per US$) — US$7.19 (2025)
• Official exchange rate (LCU per US$, period average) — US$7.19 (2025)
• Inflation, GDP deflator (annual % growth) — -0.92% (2025)
• Net domestic credit (current LCU) — 353.25 trillion (2024)
• Net foreign assets (current LCU) — 30.27 trillion (2024)
• Monetary sector credit to private sector (% of GDP) — 194.31% (2024)
• Broad money (current LCU) — 306.91 trillion (2024)
• Broad money (% of GDP) — 227.67% (2024)
• Broad money to total reserves ratio

Reading data like this

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Questions people ask

What is China's broad money (annual % growth)?

6.81% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1978?

It is up 3.16 percentage points from 3.65% in 1978. The highest value was 49.24% in 1979 and the lowest 3.65% in 1978.

How does China rank?

22nd highest of 32 economies with data for 2024.

Is the latest change in broad money (annual % growth) unusual for China?

In 2024, China's broad money (annual % growth) fell 3.04 percentage points on 2023 (from 9.85% to 6.81%). Across the 30 yearly changes before that (1994 to 2023), the average change was −1.23 percentage points and a typical year strayed about 4.75 percentage points from that (the standard deviation). This year's change was 0.4 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator FM.LBL.BMNY.ZG, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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