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Savings Fell By 700 Billion In October, A Record For A Single Month.

2010/11/12 9:53:00 40

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In October Central Bank Deposits Declined Sharply.

While the new loans exceed expectations,

October

The savings account shows a completely opposite trend.

Central Bank

Data released on the 11 day showed that in October, the new RMB deposit was 176 billion 900 million yuan, significantly lower than the 1 trillion and 450 billion yuan in September and 289 billion 700 million yuan in the same period last year, a significant decrease of 88% in the annulus ratio.

The most fundamental reason for the decrease in the current month's deposits is the massive reduction in the number of new deposits.

Data show that the new deposits of households in the month amounted to -7003 billion yuan, creating a new low deposit increase in a single month.

In March and June of this year, there were negative growth in new household deposits, which were -419 billion yuan and -425 billion yuan respectively.

Dong Xianan, chief macroeconomic analyst at Xingye securities, believes that this data shows that household savings are moving and the direction of household asset allocation is gradually clear.

In October, the Shanghai Composite Index rose more than 15%, the biggest month of the year.

Therefore, the industry believes that this has also led to the pfer of residents' savings deposits to the stock market enthusiasm.

According to the data of China Securities Depository and Clearing Corporation, the number of new accounts opened to 1 million 173 thousand in October this year, an increase of 157 thousand compared with the number of new accounts opened in September.

In addition, the number of new fund accounts was 219 thousand in October, an increase of 34 thousand compared to September.

The attractiveness of the stock market has increased significantly.

In addition to the above factors, a bank insider pointed out that

A sharp decrease in resident deposits

It also shows that the trend of bank deposit activation is obvious.

There is also a view that the pressure on banks to dash deposits in September is large, resulting in a lack of momentum to increase deposits in October.

Regulators have also criticized some banks for rushing ahead and still taking risks.

However, from another point of view, due to the factors of holidays, October has been a month of rapid decline in deposits in the year. In this sense, the fall of deposits in October this year is a normal phenomenon.