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Did you know that China's household savings rate is one of the highest in the world.
According to statistics, China's household savings rate reached 44.7 percent, much higher than the 7.6 percent in the United States and 23.1 percent in Japan.
This shows that Chinese are very fond of saving money and are unwilling to overspend or borrow.
Do you also want to know how your savings level compares to the national average, and where does it compare to other households?
If you have such curiosity, then let's take a look today.
1. What is the average deposit of Chinese?
According to data released by the central bank, as of the end of September 2023, the balance of savings deposits of Chinese residents was 97.6 trillion yuan, a year-on-year increase of 8.9%.
According to the National Bureau of Statistics announced that the national permanent population at the end of 2020 was 1.415 billion, the average Chinese deposit was about 68,900 yuan.
Of course, this figure is only an average, and in fact the distribution of deposits in China is very uneven.
Some families have a lot of savings, some have very little savings, and some even have no savings and are in debt.
2. Households with deposits of more than 300,000 account for less than 10%
The median household savings in China is 17,000 yuan, which means that half of households have less than this amount and half have more than that.
The average deposit is $165,000, which is nearly 10 times higher than the median.
This shows that the distribution of deposits is very uneven, with a small number of households having very large deposits, which drives up the average.
The report also gives the proportion of households with different deposit ranges, and we can see that the proportion of households with savings of less than 100,000 yuan is 73.8%.
The proportion of households with deposits between 100,000 and 500,000 yuan was 16.9%, the proportion of households with deposits between 500,000 and 1 million yuan was 4.2%, and the proportion of households with deposits of more than 1 million yuan was 5.1%.
In other words, less than 10% of households have more than 300,000 deposits, and less than 5% of households have more than 1 million deposits. Can your family's savings enter this range?
Third, why do Chinese love to save money? What are the benefits of saving money?
So why do Chinese love to save money so much? Some people say that this is because of the traditional concept of Chinese, which believes that saving money is a virtue.
It is to cope with the uncertainty of the future, such as illness, unemployment, pension, etc.
Some people say that this is because the consumption level of Chinese is not high, there is not much consumption demand, or there are not too many consumption channels, so they save money.
Some people also say that this is because Chinese do not have a strong sense of investment, do not have too many investment channels, or do not have much investment knowledge, so they save money.
Whatever the reason, there is nothing inherently wrong with saving money, and there are many benefits to saving money.
For example, saving money can increase your wealth, and if you keep money in the bank, you can earn interest income.
If you invest your money in other assets, you can earn higher returns.
Saving money can reduce your risk, and if you have enough money, you can deal with all kinds of unexpected situations.
For example, when you are sick, unemployed, old-aged, etc., you don't have to worry about running out of money, and you don't have to borrow money from others, or sell your assets.
Saving money can improve your credit, and if you have enough savings, you can get a loan more easily.
For example, buying a house, buying a car, starting a business, etc., you can better realize your dreams and enjoy your life better.
epilogue
It can be seen that the level of Chinese deposits is very high, but it is also very uneven, some families have a lot of savings, and some families have little or no savings.
This shows that saving money is a kind of wisdom, but don't overdo it.
Saving money is a form of wisdom because it can help you increase your wealth, reduce risk, improve your credit, and make your life more secure, freer, and happier.
But don't over-save money, because it will also make you lose a lot of opportunities, such as consumption, investment, innovation, etc., making your life more monotonous, more boring, and more backward.
Therefore, it is necessary to arrange one's savings reasonably according to one's actual situation, and one must have a certain amount of reserves and certain expenditures.
We must have a certain sense of security, but also have a certain sense of adventure, both conservative and innovative, so that our wealth and life are richer and better.
How many places can your family's savings be ranked? You can leave a message in the comment area and share your thoughts with me.