Which Data Reflects the Real Savings of the Chinese People?

Translator: Yue Ying Wan Chuan
Proofreader: Lish

According to the recent “China Statistical Yearbook 2021” revealed, as of year-end 2020, a total of 11 of the 45 key cities with household deposit balances exceeding 100,000 yuan were Beijing, Shanghai, Hangzhou, Shenyang, Guangzhou, Taiyuan, Tianjin, Shenzhen, Dalian, Nantong, and Nanjing.

Beijing and Shanghai still ranked the top two per capita saving, with 196,000 yuan and 148,000 yuan, respectively. On the other hand, the eight cities ranked from 3rd to 10th have a minimal difference in the number, ranging from 119,000 yuan to 105,000 yuan.

According to data previously released by the People’s Bank of China, annual RMB deposits in China increased by 19.65 trillion yuan in 2020, with household deposits increasing by 11.3 trillion yuan. This is equivalent to an increase of about 10,000 yuan in annual deposits per capita nationwide.

According to another official survey conducted by the Chinese Government this year, the number of indebted people has reached 780 million. The overdue rate is as high as 42%, which means at least 300 million people have their repayment overdue. In addition, the number of executed “dishonest people” has reached 5.7 million, which is equivalent to one out of every 250 Chinese people being bankrupted. The debts include mortgage, online loan, credit card overdraft, and small personal loan from other financial companies.

Based on the above three official data, the statistic games have again been used to play with the Chinese people.

Source: 老百姓又被平均了!2020年中共国人均存款增加约1万元,11个城市人均存款超10万元? – GNEWS

Published by: Lish

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