Chinese M2 vs. US M2

In browsing economic data, I came across an interesting datapoint: China's M2 is greater than the US M2.  The Chinese have 90T Yuan in M2, which works out to a little over $14T.  Meanwhile the US has a little under $10T in M2.  This is pretty surprising considering that the Chinese economy is still roughly 1/3 the size of the US'.  Since M2 is a measure of all the base money and most types of deposits in an economy, this is probably more a statement on the structure of the Chinese financial system than wealth.  Whereas Americans keep more of their wealth in capital markets, Chinese probably keep more money in the banking system, boosting M2.