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Repair Household Incomes To Boost Consumption - Securities Times

CHINA PRESS

Authorities must first repair household incomes and improve confidence before excess savings can be converted into consumption, according to experts cited by Securities Times. Household deposits surged by CNY17.84 trillion in 2022, from CNY7.7 trillion in 2021, and December’s growth in M2 was due to accelerated credit delivery and an increase in the scale of residents savings. The news outlet noted the divergence between the M2 and M1 growth rates remains, as M1 increased by 3.7% year-on-year, with M2 growing 11.8%, indicating weak credit demand in the period.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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