China's central bank total assets represent the size of the People's Bank of China's balance sheet, including domestic and foreign securities, loans to banks, and gold. Balance sheet expansion is the mechanism of quantitative easing (QE).
Why FX traders watch it
A rapidly expanding central bank balance sheet (QE) injects liquidity into the financial system and typically weakens the cny. Balance sheet reduction (QT, or quantitative tightening) is the opposite—draining reserves and supporting the cny.
How to interpret the data
Accelerating balance sheet growth is cny-negative as it signals monetary easing. Declining total assets indicate QT is underway, which is restrictive and tends to support the cny all else being equal.
Historical Central Bank Total Assets (CNY)
Source: NBS/PBoC
· Monthly
· CNY tn
Chart data not available. Access the full historical series via the API endpoint above.