At the end of April, China's broad money (M2) balance was RMB325.17 trillion, up 8% YoY, beating the market consensus of a 7.2% growth, according to the announcement made by the People's Bank of China (PBOC). Its narrow money (M1) balance amounted to RMB109.14 trillion, up 1.5% YoY. The balance of money in circulation (M0) was RMB13.14 trillion, up 12% YoY. In 4M25, net cash injection was RMB319.3 billion. Related NewsUBS Expects Further Slowdown in Future Trade w/ RMB/ USD Rate at ~7.5 by Yr-End