The central bank released data that the national deposits have reached 300 trillion yuan
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Deposit structure: Why do ordinary people have large savings but are reluctant to spend?
The original article mentioned that the balance of domestic and foreign currency deposits in the country reached 290 billion yuan, and the per capita deposit was about 200,000 yuan. However, we cannot conclude from this that ordinary people have money. First of all, most of these deposits are not resident savings, but deposits of listed companies. Many large Internet companies, such as Alibaba, JD.com, Tencent, etc., have huge cash reserves, which are also included in the total deposits. So, in fact, the personal savings of residents are not that much.
Extension: The deposit structure refers to the sum of the components of the deposit and the nature of the deposit. On the one hand, corporate deposits account for a large proportion of total deposits, mainly due to the huge scale of savings of large companies, listed companies, and Internet companies. On the other hand, there is also a part of personal savings that are saved to meet rigid expenses, such as mortgages, education expenses, food expenses, etc. Therefore, while the total amount of deposits may seem substantial, in reality the savings of most ordinary people are not enough to support large-scale consumption.
The gap between the rich and the poor leads to low consumption.
Even if one-third of the savings are counted as the savings of ordinary people, it is close to 100 trillion yuan. However, due to the gap between rich and poor, 10% of people control the vast majority of wealth, which means that the vast majority of ordinary people are under great pressure and can no longer afford to buy.
Extended: The gap between rich and poor refers to the difference in income and wealth between different economic classes in a society. In China, decades of economic development have widened the gap between the rich and the poor. The wealthy have huge amounts of wealth, but they don't necessarily spend on a large scale every day. On the contrary, their high consumption is only a drop in the bucket of their total wealth, and most of this wealth is invested in foreign property, such as luxury goods, mansions, sports cars and yachts, as well as imported luxury goods. This consumer spending contributes only to the employment and tax revenues of ordinary citizens and does not stimulate the sustainable development of the national economy.
Rigid spending reduces the willingness to spend.
For ordinary people, rigid expenditures such as mortgages, education, and food have become the main obstacles to consumption. In particular, mortgages take up most people's savings, while the cost of education continues, and so does food. These rigid expenditures force ordinary people to use funds that could otherwise be used for entertainment, car purchases, travel and other expenses to meet basic living needs. Therefore, for most ordinary people, satisfying food and clothing is already a luxury, not to mention increasing spiritual consumption and material comforts.
Scaling: Hard costs are costs that must be paid within a certain range regardless of how people's incomes change. For the vast majority of people, a mortgage is one of the biggest hard costs, as they have to make a large down payment when buying a home and are under pressure to make long-term payments. As housing prices continue to rise, mortgages have become a heavy part of people's financial burden. In addition, with the continuous optimization and improvement of educational resources, the cost of education is also continuous, and individuals and families often have to spend a lot of energy and money in order to let their children receive a better education. At the same time, food is constantly being eaten, which puts more pressure on ordinary people. This rigid consumption directly inhibits people's desire to consume.
In short, the phenomenon of more deposits does not mean that the people have more wealth, and the reason for low consumption is not only the problem of deposit structure, but also the pressure of income disparity and consumption rigidity. In order to promote the development of consumption, it is necessary to let the people have more disposable income, narrow the gap between the rich and the poor, and reduce the pressure on education and housing loans, so as to stimulate their consumption motivation. Only by making people feel the benefits brought by consumption can we truly achieve the sustainability of economic development and the all-round progress of society.
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