Recently, China's broad money M2 has shocked the world by breaking through the 300 trillion yuan mark. This figure has instantly become the focus of the world. Especially in a simple comparison with the US money supply, it seems to indicate the huge scale of China's money supply, and even triggers the fantasy of "superior purchasing power". However, this intuitive comparison of numbers actually ignores the deep logic of China and the United States' monetary statistics and the fundamental differences in the financial ecology of the two countries.

Statistical caliber: the truth behind the difference

China and the United States' M2 statistics are like two very different paintings. China's vastness covers multiple financial elements such as margin, money funds and even provident funds, while the US M2 is more focused, only locking in small deposits, and margin and provident funds are not included. If China's M2 is measured by the US yardstick, its amount will be greatly reduced, and the gap between the two countries will also fade.