Analysts: the "scissors difference" between M2 and M1 is expected to continue to remain at a relatively low level.

During the year, the year-on-year growth rate of M1 showed an overall upward trend and reached 4.6% at the end of June, a difference of 3.7 percentage points compared to the 8.3% year-on-year growth rate of M2, the smallest difference so far this year, and significantly narrower than the previous five months. Analysts expect that in the third quarter, the effects of stabilizing the economy, stabilizing expectations, stabilizing foreign trade policies, and the low base effect of M1 will continue to show, providing support for the year-on-year growth rate of M1, and the "scissors difference" between M2 and M1 is expected to continue to be maintained at a relatively low level.