China Deposit: New Increased: Household Saving data was reported at 3,090.000 RMB bn in Mar 2025. This records an increase from the previous number of 610.000 RMB bn for Feb 2025. China Deposit: New Increased: Household Saving data is updated monthly, averaging 340.400 RMB bn from Feb 2005 (Median) to Mar 2025, with 223 observations. The data reached an all-time high of 6,200.000 RMB bn in Jan 2023 and a record low of -1,850.000 RMB bn in Apr 2024. China Deposit: New Increased: Household Saving data remains active status in CEIC and is reported by The People's Bank of China. The data is categorized under China Premium Database’s Money and Banking – Table CN.KB: Deposit.

China Deposit: New Increased: Year to Date: Household Saving data was reported at 9,220.000 RMB bn in Mar 2025. This records an increase from the previous number of 6,130.000 RMB bn for Feb 2025. China Deposit: New Increased: Year to Date: Household Saving data is updated monthly, averaging 3,900.000 RMB bn from Dec 2004 (Median) to Mar 2025, with 214 observations. The data reached an all-time high of 17,840.000 RMB bn in Dec 2022 and a record low of 24.900 RMB bn in Jan 2007. China Deposit: New Increased: Year to Date: Household Saving data remains active status in CEIC and is reported by The People's Bank of China. The data is categorized under China Premium Database’s Money and Banking – Table CN.KB: Deposit.

China Household Savings Deposits Rate: Time: 1 Year data was reported at 1.500 % pa in 18 May 2025. This stayed constant from the previous number of 1.500 % pa for 17 May 2025. China Household Savings Deposits Rate: Time: 1 Year data is updated daily, averaging 1.500 % pa from Sep 1988 (Median) to 18 May 2025, with 13409 observations. The data reached an all-time high of 2.250 % pa in 27 Jun 2015 and a record low of 1.500 % pa in 18 May 2025. China Household Savings Deposits Rate: Time: 1 Year data remains active status in CEIC and is reported by The People's Bank of China. The data is categorized under High Frequency Database’s Deposit Rates – Table CN.MB: Saving Deposit Rate.

Key information about China Gross Savings Rate

• China Gross Savings Rate was measured at 44.3% in Dec 2023, compared with 44.3% in the previous year.
• China Gross Savings Rate is updated yearly, with data available from Dec 1952 to Dec 2023, and an average rate of 44.3%.
• The data reached an all-time high of 44.3% in Dec 2010 and a record low of 16.5% in Dec 1962.
• CEIC calculates Gross Domestic Savings Rate from annual Gross Domestic Savings and annual Nominal GDP. Gross Domestic Savings is calculated as Nominal GDP less Final Consumption Expenditure. The National Bureau of Statistics provides Final Consumption Expenditure in local currency and Nominal GDP in local currency.
• In the latest reports, China GDP expanded 4.5% YoY in Mar 2023.
• China Nominal GDP reached 4,166,759.1 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 0.4% in Mar 2023.
• China GDP Per Capita reached 12,621.7 USD in Dec 2023.

China Household Savings Deposits Rate: Time: 6 Month data was reported at 1.300 % pa in 10 May 2025. This stayed constant from the previous number of 1.300 % pa for 09 May 2025. China Household Savings Deposits Rate: Time: 6 Month data is updated daily, averaging 1.300 % pa from Sep 1988 (Median) to 10 May 2025, with 13401 observations. The data reached an all-time high of 2.050 % pa in 27 Jun 2015 and a record low of 1.300 % pa in 10 May 2025. China Household Savings Deposits Rate: Time: 6 Month data remains active status in CEIC and is reported by The People's Bank of China. The data is categorized under High Frequency Database’s Deposit Rates – Table CN.MB: Saving Deposit Rate.

China Household Savings Deposits Rate: Time: 3 Year data was reported at 2.750 % pa in 01 May 2025. This stayed constant from the previous number of 2.750 % pa for 30 Apr 2025. China Household Savings Deposits Rate: Time: 3 Year data is updated daily, averaging 2.750 % pa from Sep 1988 (Median) to 01 May 2025, with 13392 observations. The data reached an all-time high of 3.750 % pa in 10 May 2015 and a record low of 2.750 % pa in 01 May 2025. China Household Savings Deposits Rate: Time: 3 Year data remains active status in CEIC and is reported by The People's Bank of China. The data is categorized under High Frequency Database’s Deposit Rates – Table CN.MB: Saving Deposit Rate.

Disposable Personal Income in China increased to 51821 CNY in 2023 from 49282.94 CNY in 2022. This dataset provides - China Disposable Income per Capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about China Total Deposits

• China Total Deposits was reported at 42,328.470 USD bn in Jan 2025
• This records an increase from the previous number of 41,408.600 USD bn for Dec 2024
• China Total Deposits data is updated monthly, averaging 10,882.393 USD bn from Jan 1997 to Jan 2025, with 337 observations
• The data reached an all-time high of 42,875.380 USD bn in Sep 2024 and a record low of 819.403 USD bn in Jan 1997
• China Total Deposits data remains active status in CEIC and is reported by CEIC Data
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Total Deposits: USD: Monthly

CEIC converts monthly Total Deposits into USD. The People's Bank of China provides Total Deposit in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Total Deposits covers all financial institutions.

In 2024, the average annual per capita disposable income of households in China amounted to approximately 41,300 yuan. Annual per capita income in Chinese saw a significant rise over the last decades and is still rising at a high pace. During the last ten years, per capita disposable income roughly doubled in China. Income distribution in China As an emerging economy, China faces a large number of development challenges, one of the most pressing issues being income inequality. The income gap between rural and urban areas has been stirring social unrest in China and poses a serious threat to the dogma of a “harmonious society” proclaimed by the communist party. In contrast to the disposable income of urban households, which reached around 54,200 yuan in 2024, that of rural households only amounted to around 23,100 yuan. Coinciding with the urban-rural income gap, income disparities between coastal and western regions in China have become apparent. As of 2023, households in Shanghai and Beijing displayed the highest average annual income of around 84,800 and 81,900 yuan respectively, followed by Zhejiang province with 63,800 yuan. Gansu, a province located in the West of China, had the lowest average annual per capita household income in China with merely 25,000 yuan. Income inequality in China The Gini coefficient is the most commonly used measure of income inequality. For China, the official Gini coefficient also indicates the astonishing inequality of income distribution in the country. Although the Gini coefficient has dropped from its high in 2008 at 49.1 points, it still ranged at a score of 46.5 points in 2023. The United Nations have set an index value of 40 as a warning level for serious inequality in a society.

According to preliminary data, the agricultural sector contributed around 6.8 percent to the gross domestic product (GDP) of China in 2024, whereas 36.5 percent of the economic value added originated from the industrial sector and 54.6 percent from the service sector, respectively. The total GDP of China at current prices amounted to approximately 134.91 trillion yuan in 2024. Economic development in China The gross domestic product (GDP) serves as a primary indicator to measure the economic performance of a country or a region. It is generally defined as the monetary value of all finished goods and services produced within a country in a specific period of time. It includes all of private and public spending, government spending, investments, and net exports which are calculated as total exports minus imports. In other words, GDP represents the size of the economy.With its national economy growing at an exceptional annual growth rate of above nine percent for three decades in succession, China had become the worlds’ second largest economy by 2010, surpassing all other economies but the United States. Even though China's GDP growth has cooled down in recent years, its economy still expanded at roughly two times the pace of the United States in 2024. Breakdown of GDP in China When compared to other developed countries, the proportions of agriculture and industry in China's GDP are significantly higher. Even though agriculture is a major industry in the United States, it only accounted for about one percent of the economy in 2023. While the service sector contributed to more than 70 percent of the economy in most developed countries, it's share was considerably lower in China. This was not only due to China's lower development level, but also to the country’s focus on manufacturing and export. However, as the future limitations of this growth model become more and more apparent, China is trying to shift it's economic focus to the high-tech and service sectors. Accordingly, growth rates of the service sector have been considerably higher than in industry and agriculture in the years before the spread of the coronavirus pandemic.

Each bank publishes information on current accounts, savings deposits, fixed deposits, fixed-term savings deposits, and various interest rates such as mortgage index rates and benchmark rates. (Data for that day)

Key information about China Private Consumption: % of GDP

• China Private Consumption accounted for 39.6 % of its Nominal GDP in Dec 2023, compared with a ratio of 37.8 % in the previous year.
• China Private Consumption contribution to Nominal GDP ratio is updated yearly, available from Dec 1952 to Dec 2023, with an average share of 49.3 %.
• The data reached an all-time high of 70.8 % in Dec 1962 and a record low of 34.9 % in Dec 2010.

CEIC calculates Private Consumption as % of Nominal GDP from annual Private Consumption Expenditure and annual Nominal GDP. The National Bureau of Statistics provides Private Consumption Expenditure in local currency and Nominal GDP in local currency.


Related information about China Private Consumption: % of GDP

• In the latest reports, China GDP expanded 4.5 % YoY in Mar 2023.
• Its Nominal GDP reached 4,166.8 USD bn in Mar 2023.
• China GDP Per Capita reached 12,621.7 USD in Dec 2023.
• Its Gross Savings Rate was measured at 44.3 % in Dec 2023.

It refers to the foreign currency assets (including foreign currency cash, foreign currency deposits, and securities denominated in foreign currency) held by the central bank for non-residents, which can be freely used and utilized as needed to alleviate international balance of payments deficits.

In 2022, the ratio of military expenditure to gross domestic product (GDP) in China remained nearly unchanged at around 1.6 percent. Yet 2022 saw the lowest ratio in China with 1.6 percent. These figures refer to the total amount of money spent on a country's military, as a share of its gross domestic product (GDP). These figures apply to current expenditure on a country's armed forces, including peacekeeping forces and defense ministries, among others.Find more key insights for the ratio of military expenditure to gross domestic product (GDP) in countries like South Korea and Japan.

A survey of bank managers working in the operation and credit risk department at different hierarchical levels of individual commercial banks in China responsible for bank credit analyses and risk evaluations covering the procedure from loan application to final decision. The objective is to understand the internal organization arrangement of Chinese commercial banks in the provision of bank credit to SMEs. The focus is on the incentives and constraints faced by branch managers in the interaction with SMEs. The enquiry reflects the notion that the branch manager who directly interacts with the SME borrower plays a critical role in the information collection and processing in the lending decision. The incentives and constraints faced by branch manager are shaped by the type of organization of the bank: the degree of decision-making centralization, modes of communication between hierarchical levels, and the adoption of statistical techniques for risk evaluation.

The Chinese financial system has served the Chinese economy well in the early stages of development in channeling domestic savings to domestic investment. But, continued financial repression, along with a growing middle class and ageing population has created pressure on savings to 'search for yield'. At the same time, the dominance of lending to state-owned-enterprises, political constraints, inefficiencies and weak risk management practice by financial institutions (FI) have pushed SMEs to alternative sources of funding. The demand for yield from savers and funds from private investment has been met by the rapid growth in shadow banking.

This study encompasses two of the identified themes of the research call. The research theme 'alternative strategies for reform and liberalization' covers the role of the Shadow Bank system in the credit intermediation process. This research is of critical importance because it informs the macroeconomic research necessary for investigating 'the role of the Chinese financial system in sustaining economic growth'. Addressing the first research theme we take a dual track approach to better understand the role of the financial system in sustaining in economic growth. The first track examines the role of bank and non-bank finance in promoting long-term economic growth at the regional level. The second track is aimed at the more short-term issue of identifying the potential frequency of macro-economic crises generated by a banking crisis.

The finance-growth nexus is a well-established area of economic development, however the China experience questions the supposition that financial development is a necessary precondition. The empirical findings are mixed. Part of the reason for this could be the failure to distinguish between the quality of financial institutions across regions, and the openness of the local environment in terms of the balance between private and public enterprises. Our research would build on the existing literature in two ways. First, it would utilise imperfect but available data on informal finance to examine direct and spill-over effects on medium term growth from contiguous provinces. Second, primary data on the geographic dimension in shadow bank lending gleaned from Theme 2 research will be used to design a weighting system to adjust financial flows for the quality of the local financial environment. The second prong will develop a small macroeconomic model of a hybrid DSGE type that incorporates a banking sector including shadow banks.

Such models have been developed for China in recent times but only a few have attempted to incorporate a banking sector. These models are mostly calibrated versions and make no attempt to test the structure against the data. Recent attempts to test a hybrid New Keynesian-RBC DSGE type model for the Chinese economy using the method of indirect inference have been successful and inclusion of a shadow banks have shown some success. The results of the Theme 2 study will inform the development of a fuller shadow banking sector in the macroeconomic model that will be used to estimate the frequency of economic crises generated by bank crises. Theme 2 research will examine the relationship between the banking system and the shadow banking system as complements or substitutes. It will aim to determine the variable interest rate on the P2P online lending platform on the basis of risk-return, the home bias in online investments, and the signaling and screening in the P2P online lending platform. Finally, it will aim to identify the impact of shadow banking on entrepreneurial activity, the industrial growth rate and regional housing investment and price differentials. These results would inform the theme 1 research on the interconnectedness of shadow banking with the mainstream and the fragility of the financial system to shocks and financial crises.

Abstract

Financial inclusion is critical in reducing poverty and achieving inclusive economic growth. When people can participate in the financial system, they are better able to start and expand businesses, invest in their children’s education, and absorb financial shocks. Yet prior to 2011, little was known about the extent of financial inclusion and the degree to which such groups as the poor, women, and rural residents were excluded from formal financial systems.

By collecting detailed indicators about how adults around the world manage their day-to-day finances, the Global Findex allows policy makers, researchers, businesses, and development practitioners to track how the use of financial services has changed over time. The database can also be used to identify gaps in access to the formal financial system and design policies to expand financial inclusion.

Geographic coverage

Sample excludes Tibet and Xinjiang, representing less than 5% of the population. Unless otherwise noted, data for Chinao not include data for Hong Kong SAR, China; Macao SAR, China; or Taiwan, China.

Analysis unit

Individuals

Universe

The target population is the civilian, non-institutionalized population 15 years and above.

Kind of data

Observation data/ratings [obs]

Sampling procedure

The indicators in the 2017 Global Findex database are drawn from survey data covering almost 150,000 people in 144 economies-representing more than 97 percent of the world’s population (see table A.1 of the Global Findex Database 2017 Report for a list of the economies included). The survey was carried out over the 2017 calendar year by Gallup, Inc., as part of its Gallup World Poll, which since 2005 has annually conducted surveys of approximately 1,000 people in each of more than 160 economies and in over 150 languages, using randomly selected, nationally representative samples. The target population is the entire civilian, noninstitutionalized population age 15 and above. Interview procedure Surveys are conducted face to face in economies where telephone coverage represents less than 80 percent of the population or where this is the customary methodology. In most economies the fieldwork is completed in two to four weeks.

In economies where face-to-face surveys are conducted, the first stage of sampling is the identification of primary sampling units. These units are stratified by population size, geography, or both, and clustering is achieved through one or more stages of sampling. Where population information is available, sample selection is based on probabilities proportional to population size; otherwise, simple random sampling is used. Random route procedures are used to select sampled households. Unless an outright refusal occurs, interviewers make up to three attempts to survey the sampled household. To increase the probability of contact and completion, attempts are made at different times of the day and, where possible, on different days. If an interview cannot be obtained at the initial sampled household, a simple substitution method is used.

Respondents are randomly selected within the selected households. Each eligible household member is listed and the handheld survey device randomly selects the household member to be interviewed. For paper surveys, the Kish grid method is used to select the respondent. In economies where cultural restrictions dictate gender matching, respondents are randomly selected from among all eligible adults of the interviewer’s gender.

In economies where telephone interviewing is employed, random digit dialing or a nationally representative list of phone numbers is used. In most economies where cell phone penetration is high, a dual sampling frame is used. Random selection of respondents is achieved by using either the latest birthday or household enumeration method. At least three attempts are made to reach a person in each household, spread over different days and times of day.

The sample size was 3627.

Mode of data collection

Face-to-face [f2f]

Research instrument

The questionnaire was designed by the World Bank, in conjunction with a Technical Advisory Board composed of leading academics, practitioners, and policy makers in the field of financial inclusion. The Bill and Melinda Gates Foundation and Gallup Inc. also provided valuable input. The questionnaire was piloted in multiple countries, using focus groups, cognitive interviews, and field testing. The questionnaire is available in more than 140 languages upon request.

Questions on cash on delivery, saving using an informal savings club or person outside the family, domestic remittances, and agricultural payments are only asked in developing economies and few other selected countries. The question on mobile money accounts was only asked in economies that were part of the Mobile Money for the Unbanked (MMU) database of the GSMA at the time the interviews were being held.

Sampling error estimates

Estimates of standard errors (which account for sampling error) vary by country and indicator. For country-specific margins of error, please refer to the Methodology section and corresponding table in Demirgüç-Kunt, Asli, Leora Klapper, Dorothe Singer, Saniya Ansar, and Jake Hess. 2018. The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution. Washington, DC: World Bank

China Domestic Bank: Small & Medium: Source and Use of Fund data was reported at 113,003.201 RMB bn in Nov 2018. This records an increase from the previous number of 111,562.890 RMB bn for Oct 2018. China Domestic Bank: Small & Medium: Source and Use of Fund data is updated monthly, averaging 38,783.953 RMB bn from Jan 2010 (Median) to Nov 2018, with 107 observations. The data reached an all-time high of 113,003.201 RMB bn in Nov 2018 and a record low of 14,934.797 RMB bn in Jan 2010. China Domestic Bank: Small & Medium: Source and Use of Fund data remains active status in CEIC and is reported by The People's Bank of China. The data is categorized under China Premium Database’s Money and Banking – Table CN.KC: Source and Use of Credit Fund: Domestic Bank: Small and Medium. Since 2015, deposits of non-depository financial institutions are covered in total deposits and loans to non-depository financial institutions are covered in total loans. 自2015年起，“各项存款”含非存款类金融机构存放款项，“各项贷款”含拆放给非存款类金融机构的款项。

Key information about China GDP Per Capita

• China Gross Domestic Product (GDP) per Capita reached 13,306.173 USD in Dec 2024, compared with 12,959.024 USD in Dec 2023.
• China GDP Per Capita data is updated yearly, available from Dec 1957 to Dec 2024, with an average number of 388.951 USD.
• The data reached an all-time high of 13,306.173 USD in Dec 2024 and a record low of 68.243 in Dec 1957.
• CEIC converts annual GDP per Capita into USD. The National Bureau of Statistics provides GDP per Capita in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.

Related information about China GDP Per Capita data

• In the latest reports, China GDP expanded 4.550 % YoY in Mar 2023.
• China Nominal GDP reached 4,166.759 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 0.400 % in Mar 2023.
• Gross Savings Rate of China was measured at 44.277 % in Dec 2023.

Taiwan DB: China Development Ind Bank: Deposits data was reported at 0.000 NTD mn in Feb 2017. This stayed constant from the previous number of 0.000 NTD mn for Jan 2017. Taiwan DB: China Development Ind Bank: Deposits data is updated monthly, averaging 38,597.500 NTD mn from Nov 1999 (Median) to Feb 2017, with 208 observations. The data reached an all-time high of 225,679.000 NTD mn in Jan 2015 and a record low of 0.000 NTD mn in Feb 2017. Taiwan DB: China Development Ind Bank: Deposits data remains active status in CEIC and is reported by Banking Bureau, Financial Supervisory Commission. The data is categorized under Global Database’s Taiwan – Table TW.KB032: Condensed Financial Structure: Domestic Banks.

Since the beginning of the 21st century, the BRICS countries have been considered the five foremost developing economies in the world. Originally, the term BRIC was used by economists when talking about the emerging economies of Brazil, Russia, India, and China, however these countries have held annual summits since 2009, and the group has expanded to include South Africa since 2010. China has the largest GDP of the BRICS country, at 16.86 trillion U.S. dollars in 2021, while the others are all below three trillion. Combined, the BRICS bloc has a GDP over 25.85 trillion U.S. dollars in 2022, which is slightly more than the United States. BRICS economic development China has consistently been the largest economy of this bloc, and its rapid growth has seen it become the second largest economy in the world, behind the U.S.. China's growth has also been much faster than the other BRICS countries; for example, when compared with the second largest BRICS economy, its GDP was less than double the size of Brazil's in 2000, but is almost six times larger than India's in 2021. Since 2000, the country with the second largest GDP has fluctuated between Brazil, Russia, and India, due to a variety of factors, although India has held this position since 2015 (when the other two experienced recession), and it's growth rate is on track to surpass China's in the coming decade. South Africa has consistently had the smallest economy of the BRICS bloc, and it has just the third largest economy in Africa; its inclusion in this group is due to the fact that it is the most advanced and stable major economy in Africa, and it holds strategic importance due to the financial potential of the continent in the coming decades. Future developments It is predicted that China's GDP will overtake that of the U.S. by the end of the 2020s, to become the largest economy in the world, while some also estimate that India will also overtake the U.S. around the middle of the century. Additionally, the BRICS group is more than just an economic or trading bloc, and its New Development Bank was established in 2014 to invest in sustainable infrastructure and renewable energy across the globe. While relations between its members were often strained or of less significance in the 20th century, their current initiatives have given them a much greater international influence. The traditional great powers represented in the Group of Seven (G7) have seen their international power wane in recent decades, while BRICS countries have seen theirs grow, especially on a regional level. Today, the original BRIC countries combine with the Group of Seven (G7), to make up 11 of the world's 12 largest economies, but it is predicted that they will move further up on this list in the coming decades.