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.

In 2023, gross national savings in China reached around 43 percent of the gross domestic product (GDP). Gross savings are calculated by subtracting the total consumption value from gross national income, plus net transfers.

China Household Savings Deposits Rate: Time: 1 Year data was reported at 1.500 % pa in 26 Mar 2025. This stayed constant from the previous number of 1.500 % pa for 25 Mar 2025. China Household Savings Deposits Rate: Time: 1 Year data is updated daily, averaging 1.500 % pa from Sep 1988 (Median) to 26 Mar 2025, with 13356 observations. The data reached an all-time high of 2.500 % pa in 10 May 2015 and a record low of 1.500 % pa in 26 Mar 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.

Gross savings (% of GDP) in China was reported at 43.61 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. China - Gross savings (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

Key information about Macau SAR (China) Gross Savings Rate

• Macau SAR (China) Gross Savings Rate was measured at 16.6% in Dec 2022, compared with 16.6% in the previous quarter.
• Macau SAR (China) Gross Savings Rate is updated quarterly, with data available from Mar 2001 to Dec 2022, and an average rate of 16.6%.
• The data reached an all-time high of 16.6% in Mar 2014 and a record low of 4.5% in Jun 2020.
• CEIC calculates Gross Domestic Savings Rate from quarterly Gross Domestic Savings and quarterly Nominal GDP. Gross Domestic Savings is calculated as Nominal GDP less Final Consumption Expenditure. Final Consumption Expenditure is calculated as the sum of Private and Government Consumption Expenditure. Statistics and Census Service provides Final Consumption Expenditure in local currency and Nominal GDP in local currency.
• In the latest reports, Macau SAR (China) GDP contracted 23.4% YoY in Dec 2022.
• Macau SAR (China) Nominal GDP reached 6,008.2 USD mn in Dec 2022. Its GDP deflator (implicit price deflator) increased 1.2% in Dec 2022.
• Macau SAR (China) GDP Per Capita reached 32,418.3 USD in Dec 2022.

Among the ten largest economies worldwide, China was by far the one with the highest savings rate in 2021. Meanwhile, gross savings in the United States amounted to slightly over 18 percent of its gross domestic product (GDP). Within this group of countries, the United Kingdom was the one with the lowest savings rate at nearly 16 percent. The rest of the countries in the list saved between 17 and 31 of their GDP.

China Household Savings Deposits Rate: Demand data was reported at 0.350 % pa in 24 Mar 2025. This stayed constant from the previous number of 0.350 % pa for 23 Mar 2025. China Household Savings Deposits Rate: Demand data is updated daily, averaging 0.350 % pa from Sep 1988 (Median) to 24 Mar 2025, with 13354 observations. The data reached an all-time high of 0.350 % pa in 24 Mar 2025 and a record low of 0.350 % pa in 24 Mar 2025. China Household Savings Deposits Rate: Demand 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. [COVID-19-IMPACT]

According to a survey about savings behaviors among young people in China in 2022, around 29.5 percent of respondents stated that they saved between 30 and 50 percent of their monthly income. Meanwhile, around 4.2 percent of respondents said that more than 80 percent of their monthly income went to their savings.

China Deposit: New Increased: Year to Date: Household Saving data was reported at 6,130.000 RMB bn in Feb 2025. This records an increase from the previous number of 5,520.000 RMB bn for Jan 2025. China Deposit: New Increased: Year to Date: Household Saving data is updated monthly, averaging 3,860.000 RMB bn from Dec 2004 (Median) to Feb 2025, with 213 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: 6 Month data was reported at 1.300 % pa in 19 Mar 2025. This stayed constant from the previous number of 1.300 % pa for 18 Mar 2025. China Household Savings Deposits Rate: Time: 6 Month data is updated daily, averaging 1.300 % pa from Sep 1988 (Median) to 19 Mar 2025, with 13349 observations. The data reached an all-time high of 2.300 % pa in 10 May 2015 and a record low of 1.300 % pa in 19 Mar 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.

According to a survey about savings behaviors among young people in China in 2022, around 52.1 percent of respondents born in 2000 or after said that they only save money spontaneously. Comparatively, about 41.7 percent of respondents born between 1990 and 1994 save money regularly.

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.

In 2023, the deposit interest rate in China did not change in comparison to the previous year. The deposit interest rate remained at 1.5 percent. The deposit interest rate is paid by financial institutions to deposit account holders.Find more statistics on other topics about China with key insights such as total value of stocks traded.

Postal Savings Bank Of China reported CNY55.15B in Interest Expense on Debt for its fiscal quarter ending in September of 2023. Data for Postal Savings Bank of China | 601658 - Interest Expense On Debt including historical, tables and charts were last updated by Trading Economics this last March in 2025.

Hong Kong Savings Deposits Rate: Period Average data was reported at 0.130 % pa in Nov 2018. This records an increase from the previous number of 0.120 % pa for Oct 2018. Hong Kong Savings Deposits Rate: Period Average data is updated monthly, averaging 2.250 % pa from Aug 1976 (Median) to Nov 2018, with 508 observations. The data reached an all-time high of 13.210 % pa in Oct 1981 and a record low of 0.003 % pa in Jul 2004. Hong Kong Savings Deposits Rate: Period Average data remains active status in CEIC and is reported by Hong Kong Monetary Authority. The data is categorized under Global Database’s Hong Kong SAR – Table HK.M001: Deposit Rate and Lending Rate.

According to estimates made in 2023, the professional service industry in China would save around 600 billion yuan throughout the industry when using generative AI, which accounts for an 11 percent cost reduction. While industries, such as materials, that do not rely so much on digital infrastructure have fewer relative savings, due to their overall size, the absolute cost savings are still significant.

Many societies around the world are rapidly aging and this has implications for social and economic development. We collect data on NEEQ-listed enterprises from 2010 to 2021 in China and empirically test the effect of population aging on the digital transformation of small and medium-sized enterprises (SMEs). The findings show that population aging has a significant positive impact on SME digital transformation, and private enterprises and enterprises in eastern regions of China tend to benefit more than other regions. The mechanism studies find that population aging positively impacts SME digital transformation by increasing labor costs, facilitating human capital accumulation, and raising savings rates. Furthermore, the threshold effect analyses find that the marginal promotion effect of population aging will weaken with greater aging and will strengthen with a higher level of marketization. Finally, we provide policy recommendations for promoting digital transformation in SMEs against the background of population aging.

Key information about China GDP Per Capita

• China Gross Domestic Product (GDP) per Capita reached 12,621.720 USD in Dec 2023, compared with 12,674.873 USD in Dec 2022.
• China GDP Per Capita data is updated yearly, available from Dec 1957 to Dec 2023, with an average number of 369.297 USD.
• The data reached an all-time high of 12,674.873 USD in Dec 2022 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.

In 2023, the average cost-income ration among Chinese leading commercial banks was 34 percent. With a cost-income ratio of over 64 percent, Postal Savings Bank of China had the highest ratio of the top 10 banks.

Double threshold regression results of population aging.