Hebei's individual deposits enjoyed the fastest and steadiest rise in the first eight months of 2012 among all other types of financial deposits.
According to financial data released by the Shijiazhuang branch of the People's Bank of China, renminbi and foreign currency deposits in Hebei’s financial institutions reached 3.30 trillion yuan ($522 billion), a 14.31 percent rise year-on-year. Individual deposits have risen faster than other types of deposits and units deposits.
Industry analysts say that the steady rise of individual deposits comes from rising income. The other reason is the downturn of the housing market and the stock market. Though the central bank cut the interest rate twice, people are still unwilling to invest and most are choosing to keep their money in the bank. |
