China Fast Figure: New Banking Deposits

Household deposits are up, but that is in contrast to enterprise deposits

Household deposits increased from 41% up from 15% in January 2018. The growth in household deposits stands in contrast to enterprise deposits which decreased to 20% in August from 37% January. Households are driving new deposits, which we believe shows consumers keeping their money close and not spending it. This correlates to the dip we have seen in retail sales.

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