China's broad M2 money supply grew 8.6% year over year to 353.7 trillion yuan as of the end of May, according to data from the People's Bank of China (PBOC) released on Friday.

The pace of expansion was unchanged from the growth recorded in April. It was also in line with the consensus forecast tracked by Investing.com.

Meanwhile, narrow money supply (M1) rose 5.5% at the end of May to 114.89 trillion yuan, faster than the 5% increase in April. Currency in circulation (M0) stood at 14.69 trillion yuan, up 11.9% year over year, slowing from the 12.2% growth in the previous month.