In The China Economy Yearbook, Volume 2 | ISBN: 9789004168022
I. Financial Situation
1. Money Supply
Since 1994, The People's Bank of China's main monetary policy intermediate target has been the money supply. Though there has been increasing discussion of whether the money supply should continue as the intermediate target for China's monetary policy, the Bank of China still announces at the beginning of each year the target growth rates for M1 and M2.
The M2 supply was 34.6 trillion yuan by the end of 20…