The total deposits in the country are 227 trillion yuan, and the average household deposit is 370,000 yuan
It is said that the rapid growth of China's deposit scale indicates that China's economic strength has been further enhanced.
As of the end of June 2023, China's deposits have reached US$227 billion, surpassing other countries and regions and becoming the world's largest depositor.
Of these, resident deposits amounted to 132400 million yuan, an increase of 108%。This growth shows that China's residents have strengthened their sense of savings and the stability of economic development.
But once again, people are confused in the face of these figures. If there are so many deposits, why can't consumption take off?Why is the pace of economic recovery always so slow?
If you press the average of our country 14100 million people should save 9$40,000. If calculated on a household basis, the savings for a household should be 37$60,000.
With a little more money per person or household, we can expect a significant increase in total retail sales.
But that's not the case.
Some netizens said that even if you don't eat or drink every year, you can't save 940,000 yuan. Seeing this number, you can't help but feel like you're living in a world that is out of touch with reality.
He argues that high housing prices, high commodity prices, and competitive work environments in cities make it difficult for ordinary people to have the opportunity to accumulate enough savings.
Some people even joke that if you want to save to the average, it is better to give up city life and return to the mountains to live a simple and comfortable life.
Some bank analysts point out that only about 2% of people currently have surplus funds to save, and most of the rest have their income mainly for expenses, such as mortgages, car loans and daily expenses.
If you go by this number, 98% of people have no savings at all or do not reach the average, that is, more than a billion people do not have savings of around $90,000, which seems very exaggerated.
In fact, when you think about it, it seems relatively normal.
Housing prices in China are generally high, and many families have had to dip into their savings for generations to buy a home. The pressure of buying a home limits the ability to save at the desired level.
People's debt ratios are also rising. Mortgages, car loans, and other forms of credit put a strain on household finances, reducing their ability to save.
The pandemic that has erupted in recent years has dealt a new blow to the finances of many people. Factors such as reduced incomes and job instability mean that many people can't afford to have extra money to save.
There are also long-term factors that affect savings.
The cost of education in our country has always been the most headache and expense for all families, especially after the children go to school, tuition fees, book fees and tutoring fees continue to be paid**.
With the continuous expansion of educational resources and the continuous improvement of education standards, families have to spend more money to provide better education for their children.
Many families face the dilemma that the cost of education accounts for a large part of their income, making it extremely difficult to save.
What's more, the cost of medical care in our country is constantly increasing. Especially if there are elderly people and children at home, medical expenses are an expense that cannot be ignored.
The medical expenses of the elderly, the common diseases of children, and the emergency medical expenses have largely depleted the family's savings. Even with the support of health insurance, it is still difficult to fully cover the high medical bills, which puts a huge pressure on household savings.
Faced with the twin pressures of education and healthcare, some families may cut back on non-essential expenses such as leisure and travel to save money on education and health care. They may even be able to cope with the tense financial pressure by borrowing. In such a situation, it becomes extremely difficult to accumulate savings, posing a number of challenges to the financial stability of the family.
It is because of these circumstances that our average deposit amount is very high, but it is difficult for these deposits to be used for consumption, thus driving the economy.
To solve this problem, ordinary people still need to make more money.