Economic activity drives financial activity, and the "scissors gap" between M2 and M1 has narrowed to a new low.

At the end of June, the year-on-year growth rate "scissors difference" between broad money and narrow money in China narrowed to 3.7 percentage points, hitting a new low since the adjustment of M1 statistical caliber, releasing positive signals such as more "active money" and a rebound in investment and consumption intentions. Analysts predict that in the third quarter, the effects of stabilizing the economy, expectations, and foreign trade policies, as well as the low base effect of M1, will continue to be evident, providing support for the year-on-year growth rate of M1, and the "scissors difference" between M2 and M1 is expected to continue to maintain at a relatively low level.