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For a long time, the growth of household savings has been relatively high, but this indicator is changing quietly. The latest financial statistics released by the central bank in April showed that 535 billion 200 million yuan was added in April. From the deposit structure, new deposits came mainly from the business sector in the month, and household deposits dropped by 1 trillion and 320 billion yuan, the biggest fall in history.
This change caused widespread concern in the market, but in fact, this is not the first negative growth of household savings deposits. In February of this year, Li Yang, director of the national finance and development laboratory, said publicly that China's leverage rate has changed two major changes. It has not fallen on the macro level and has been structurally adjusted. Last year, Chinese residents first appeared negative savings growth rate, which means that Chinese residents will soon become a deficit sector. M2 growth has dropped, savings deposits have fallen, and time deposits have fallen.
In the short term, there is a specific time factor for the decline in savings deposits. Except for April this year, there have been a significant reduction in resident deposits in April and October last year. It will squeeze and overdraft the next deposit scale.
However, from the current data, there is a trace of the decline of residents' deposits, which may become a long-term trend. Since 2017, the downward pressure on the economy has increased, and the decline in household savings has also been justified.
At the same time, one of the noticeable phenomena is that the increment of the residents' loan increases continuously over the deposit increment. In 2017, the resident loans increased by 7 trillion and 100 billion yuan, of which the short-term loans increased by 1 trillion and 800 billion yuan and the medium and long term loans were 5 trillion and 300 billion yuan.


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