For all the people talking about China's vertical spike in the money supply, this is a nothing burger (as @intocryptoverse has correctly pointed out).

The spike in the China *M1* chart was due to change in how the chart is calculated rather than an actual increase of money.

The Global *M2* Money Supply chart is unaffected by China's change, since this change of calculation affected the China *M1* and not China *M2*.

Here's what changed:

"Effective January 2025, China's People's Bank of China (PBOC) revised the definition of M1, expanding it to include personal demand deposits and customer reserve funds held by non-bank payment institutions, in line with practices of other major economies."

See below.