M2 does not include credit. M2 refers to the broad money supply, including M 1 (cash and demand deposits in circulation) and other short-term deposits and time deposits. Credit extension refers to the credit funds provided by banks to customers, including loans and credit card lines. M2 does not include credit, because credit is a debt relationship and does not belong to the direct form of money. Although credit can be converted into monetary form, it does not belong to broad money supply. Credit supply needs the operation and management of banks and other financial institutions, and the broad money supply is controlled and supervised by the central bank. So m2 does not include credit. Extended content: Credit is an important financial tool, which can promote economic development and meet the capital needs of individuals and enterprises. Banks can help customers achieve investment, consumption and other goals through credit granting. At the same time, they also need to conduct risk assessment and management of credit issuance to ensure the stability and security of the financial system.