MM2 component · monetary data
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Country-level broad-money series used as an M2-equivalent component of the MM2 production basket.
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Monetary mapping · China
China uses the official PBoC M2 aggregate
China enters MM2 through the official M2 series published by the People’s Bank of China. In the frozen QWM2 mapping it is classified as a core M2 / close variant, so this is one of the more direct cross-country mappings: the national source itself uses an M2 broad-money aggregate rather than requiring a differently named proxy.
Comparability is still conceptual rather than literal. The structure of China’s banking system and the precise boundaries of monetary instruments are not identical to those of the United States, which is why MM2 does not claim that national M2 definitions are interchangeable. The production series preserves the official Chinese definition and then converts the local-currency stock into current U.S. dollars; as a result, China’s contribution can move because of domestic monetary expansion or contraction and because of CNY/USD translation.
Historical series
M2-equivalent through time
Yellow points and dashed yellow segments identify months where the latest official monetary stock was carried forward. The underlying observation remains explicitly non-official.
Methodological note
Country series within MM2
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