The figure increased by 922.7 billion yuan from the same period last year, according to the People's Bank of China.
The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 12.6 percent year on year to 273.81 trillion yuan at the end of last month.
The growth rate was 0.8 percentage points higher than the figure seen at the end of December 2022, and was 2.8 percentage points higher than that in the same period last year.
The M1, which covers cash in circulation plus demand deposits, stood at 65.52 trillion yuan at the end of January. It was up by 6.7 percent year on year.
The M0, the amount of cash in circulation, went up by 7.9 percent from a year ago to 11.46 trillion yuan at the end of last month.
In January, the central bank injected a total of 997.1 billion yuan of net cash into the market.
Newly added social financing, a measurement of funds that individuals and non-financial firms receive from the financial system, came in at 5.98 trillion yuan last month, representing a decrease of 195.9 billion yuan from the same period last year.
By the end of January, the total outstanding yuan deposits stood at 265.39 trillion yuan, up 12.4 percent year on year.
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