Data released by the People's Bank of China on the 13th shows that by the end of November, the growth rate of broad money (M2) in the country was basically stable, and the scale of social financing was reasonably growing. In terms of money supply, by the end of November, the balance of broad money (M2) was 311.96 trillion yuan, an increase of 7.1% year-on-year. Excluding the impact of the high base in 2023, the average growth rate over two years shows that by the end of November 2023 and 2024, the average growth of broad money (M2) was 8.6%. This maintained a reasonable abundance of liquidity. From the financing scale perspective, by the end of November, the social financing scale stock was 405.6 trillion yuan, an increase of 7.8% year-on-year, which matches the expectations for economic growth and price levels. Among these, the balance of RMB loans issued to the real economy was 251.69 trillion yuan, an increase of 7.4% year-on-year; the balance of government Bonds was 79.33 trillion yuan, an increase of 15.2% year-on-year.