(Beijing Comprehensive News) As Chinese consumers and enterprises have long been bound to banks for a long time in banks and removed a large number of market liquidity, experts believe that this has led to the Chinese economy may fall into Japan in the 1990s and fall into Japan.Lob like trap.
Reuters reports that due to economic dysfunction and government supervision, Chinese investors withdrew from the two traditional investment channels, the real estate market and the stock market, and bought large bank deposits.According to the data released by the People's Bank of China, in the first quarter of this year, the total amount of large -scale deposit deposits issued by financial institutions was 5.5 trillion yuan (RMB, the same below, the same, new dollars of new dollars), an increase of 1.1 trillion yuan year -on -year.The highest quarterly issuance has been launched since its launch.
Certificates of DEPOSIT refers to a deposit of a single deposit of more than 200,000 yuan and three years from the storage period, which is higher than ordinary regular deposits.This year's large deposit orders have become popular. According to the China Securities Times, although the bank has reduced interest to about 3%, the large deposit bills are still instantly grabbed.
Reuters said that in addition to individuals, companies have also joined the team to buy large -scale deposits to further drag down the Chinese economy.This shows that even in the low interest rate period, it still chooses cash instead of investment.This is a typical liquidity trap, and it is also a problem that has troubled the Japanese economy since the 1990s.After Japan's liquidity trap in the 1990s, he experienced decades of economic downturn and shrinking.
Analysts believe that today's Chinese families and enterprises lack confidence, which is the same as the situation in Japan that year.However, a key difference between China and Japan at that time was that there was no threat of deflation and banks did not stop lending.
Fan Gang, a well -known economist in China and former consultant of the People's Bank of China, pointed out in a forum in June that "the current situation is not a tightness, but a liquidity trap."
Surging News quotes Fan Gang pointed out that liquidity traps refer to that even if there are more currencies and low financing costs, people will not invest if they are expected to return."Just like the currency falls into a black hole, our current situation belongs to this situation, that is, the needs of enterprises and residents are poor."
According to Reuters, although China has reduced interest rates and encouraged banks to increase lending to stimulate the economy, about 180 A -share listed companies invest in large deposit bills.It is reported that the pursuit of large -scale deposit and low -risk wealth management products has weakened the government's tax cuts and introduced real estate support policies to stimulate demand and consumption.
The increase in household deposits in the first half of this year is the highest in ten years
China's savings rate is high.At the end of June, the total amount of Chinese household deposits reached a record of 1.322 trillion yuan, an increase of 1.2 trillion yuan in half a year, the largest increase in ten years.
Wang Rui, a senior economist of China and New Bank, said: "Because the real estate industry has almost no signs of recovery, the employment prospects are not sure, and the increase in family deposits indicates that there is a general pessimistic in Chinese families."
The stock market is not satisfactory.The benchmark Shanghai Composite Index and Blue Chip's CSI 300 Index have far behind the stock market in neighboring Japan, which has risen nearly 25% so far this year.
A 50 -year -old Shanghai investor said that earlier this year, he put most of his savings into a regular deposit list.He said: "Before seeing the obvious upward trend, I will not invest funds to the stock market."
