There are two sets of data recently, which makes people feel that Chinese people are more inclined to save money. Household deposits increased by more than 10 trillion yuan in the first half of the year Data released by the central bank on the 11th showed that RMB deposits increased by 18.82 trillion yuan in the first half of the year, an increase of 4.77 trillion yuan year-on-year. Among them, household deposits increased by 10.33 trillion yuan, non-financial enterprise deposits increased by 5.3 trillion yuan, fiscal deposits increased by 506.1 billion yuan, and non banking financial institutions deposits increased by 951.3 billion yuan. In June, RMB deposits increased by 4.83 trillion yuan, an increase of 974.1 billion yuan year-on-year. In the first half of the year, household deposits increased by 10.33 trillion yuan. What is this concept? This means that in the first half of the year, an average of 57.1 billion deposits poured into banks every day. Vertically, household deposits increased by 7.45 trillion yuan in the first half of 2021, 8.33 trillion yuan in the first half of 2020, 6.82 trillion yuan in the first half of 2019, and 4.26 trillion yuan in the first half of 2018. In other words, the increase in household deposits in the first half of 2022 reached a new high in the same period in recent years. 58.3% of residents tend to "save more" According to the questionnaire survey report of urban depositors in the second quarter of 2022 released by the central bank, 23.8% of residents tend to "consume more", an increase of 0.1 percentage points over the previous quarter; Residents who tend to "save more" accounted for 58.3%, an increase of 3.6 percentage points over the previous quarter; Residents who prefer "more investment" accounted for 17.9%, a decrease of 3.7 percentage points over the previous quarter. In other words, the number of people willing to save more money has increased significantly, while the number of people willing to invest more has decreased. In the first half of the year, household deposits increased significantly, and the willingness to save in the future increased, which made the partners wonder: why do you like saving more? Behind the fact that Chinese people prefer to save money Dongximiao, chief researcher of Zhaolian finance, told the "China new observation" column of chinanews.com that there are many reasons for the substantial increase in residents' deposits and the increase in their willingness to save, both short-term and long-term. Dongximiao pointed out that in the short term, it is mainly the impact of the COVID-19. Since March this year, the epidemic has been spreading in many places in China, some enterprises have difficulty in normal production and operation, and unstable and uncertain factors have increased, leading to an increase in residents' Preventive Savings motivation. At the same time, since the beginning of this year, affected by the volatility of the international financial market, the volatility of China's capital market has intensified, and the returns of stocks and funds have decreased significantly, especially the "net breaking" of bank financial products, which has led to a decline in residents' risk appetite and some funds flowing back to deposits. Lu Zhengwei, chief economist of Industrial Bank, said in the research report that the experience of 2020 shows that the epidemic will lead to an increase in the year-on-year growth rate of residents' deposits, and the year-on-year growth rate of deposits will remain at a high level for a period of time. Dongximiao believes that young and middle-aged groups, as the main force of consumption, in addition to their income advantages, are also facing life pressures such as "old people at the top and small people at the bottom". Residents' uncertain expectations of future income and expenditure have increased, which has significantly enhanced residents' awareness of prevention and willingness to save. In addition, with the strengthening of regulation and control of the real estate market, residents' willingness to consume housing continued to be weak, reducing housing consumption expenditure, and some of it was converted to residents' deposits. How can we stimulate consumption? There are advantages and disadvantages to saving more. Dongximiao said that the continuous increase in residents' deposits has improved the resilience of China's economic development and the ability of residents to resist risks, but it also reflects the weakening of residents' expectations for the future, insufficient consumption demand, declining willingness to invest and other issues. Next, targeted measures should be taken to stabilize residents' expectations and confidence and further boost residents' consumption and investment. He suggested that the National Health Commission should strictly implement the "nine prohibitions" requirements, balance the relationship between epidemic prevention and control and economic growth, minimize the impact of epidemic prevention and control on the economy and people's livelihood, and stabilize the expectations of enterprises and residents. Further stabilize the macro-economic market. We should implement a series of policies and measures to stabilize the economy introduced in the early stage. Fiscal and monetary policies should be more proactive and proactive, continue to help market players solve difficulties and the steady recovery of the real economy, stabilize residents' employment and improve residents' income. Dongximiao pointed out that we should boost residents' willingness and ability to consume. We should continue to release the potential of the domestic market, take active and effective measures to change the problems of insufficient consumption motivation of residents, improve the consumption environment of residents, cultivate medium and high-end consumption growth points, expand the consumption of durable consumer goods such as automobiles, and promote the transformation and upgrading of residents' consumption. We should further implement differentiated housing credit policies, reasonably grasp credit supply, and better meet residents' self occupied and improved housing purchase needs. In the long run, Dong ximiao suggested that we should further improve the full coverage of the social security system, better meet the urgent needs of residents in terms of pension, medical treatment, education, etc., reduce residents' worries, and then reduce their willingness to preventive savings. At present, all regions are also trying to stimulate consumption, and boosting automobile and real estate consumption has become an important starting point. In terms of promoting automobile consumption, in addition to reducing the purchase tax, many places have also offered real money subsidies to stimulate everyone to buy cars. In terms of stimulating real estate consumption, many places have announced to relax purchase and sale restrictions, reduce the proportion of down payment, and a considerable number of cities will also issue house purchase subsidies. In addition, many places have also issued consumption vouchers to stimulate consumption. For example, Beijing has issued 100million yuan of catering consumption vouchers online and offline since July. (Xinhua News Agency)