Recently, the Shanghai University of Finance and Economics Advanced Research Institute released《2019中国宏观经济形势分析与预测年中报告》, the report pointed out that in 2019, the national household deposits surged, and the savings rate also rebounded for the first time since 2013. The increase in family preventive savings motivation is the main reason behind it.
The report suggests that a particularly noteworthy phenomenon in 2019 is the surge in household deposits. In the first five months of 2019, the number of new household deposits was nearly 5.7 trillion yuan, far exceeding the same period in other years. In January 2019, a new monthly increase of 3.83 trillion yuan was established, setting a new high since 2005. Moreover, the proportion of household deposits to disposable income also rose sharply to 23% in 2019, up nearly 7 percentage points from last year.
The report team analyzed that the reasons for the rapid increase in household deposits are various, such as the release of the year-end bonus for the Spring Festival, the recovery of the stock market, and the popularity of the second-hand housing market in the third- and fourth-tier cities. But an important reason why households do not consume after getting a lot of cash but increase their savings is the increase in household preventive savings motivation caused by uncertainty.
In addition, the series of reports began in 2017 to call attention to the cumulative potential risks of household debt. The report believes that an important reason for the accumulation of household debt is high housing prices. The research team found that the higher the rate of house price growth, the faster the accumulation of household debt. On average, every 1% increase in house prices would result in an additional 0.53% of household debt.
Mr. Liu, a working worker in Xi'an after 90, said that he had no way to buy a house in the past few years, bought a house on a loan, and later loaned it. Because the industry's benefits are not ideal, and some subjective and objective factors make the work difficult to carry out, his income is also falling, and the family rarely goes out to have dinner, basically they are doing their own meals. He hopes to increase his income and spend money to make his family's life better.To promote the development of all aspects of society.Huashang Dailyxx