Figure 5: grow by around 13%

Original text from the report:

We will pursue a balanced monetary policy, move toward a basic balance between overall supply and demand in society, and foster a stable monetary and financial environment. We will strengthen macro-prudential management to encourage an appropriate increase of monetary credit and nongovernmental financing. This year, M2 is forecast to grow by around 13%.

Comments: Zhou Tianyong, deputy director of the International Institute for Strategic Studies of the Central Party School

To keep M2 growing by around 13% is the key point of macro-control of monetary policy. On the one hand, prudent monetary policy cannot permit excessive fluctuations; on the other hand, it will be conducive to growing employment and price stability. Without mobility in the monetary supply, investment, employment, and industrial operations may be affected.