The bank deposits of Beijingers had reached 481.34 billion yuan
(US$58.2 billion) by the end of May, a rise of 23.5 percent
year-on-year, according to the latest statistics from the Beijing
statistical bureau.
Of
the total figure, 93.1 percent belonged to urban residents, who
make up 71 percent of Beijing's total population, indicating an
imbalance between urban and rural residents in terms of
savings.
Some residents deposited money for children's education, medical
services or as a nest egg for their old age life, and some saved
money to buy automobiles or homes. Some people said they had failed
to identify good investment prospects so they deposited their money
in banks.
The bank deposits of Beijingers went up from 930 million yuan
(US$112.5 million) to 438.97 billion yuan (US$53.1 billion) from
1978 to the end of 2002, with the annual growth rate reaching 27.9
percent.
Statistics show the per capita income for urban and rural residents
of Beijing rose annually by 15.2 percent and 13.9 percent
respectively during the 1978-2002 period. Beijing's gross domestic
product grew by an annual 10 percent.
The increasing trend in bank deposits is expected to continue in
the foreseeable future, bank sources said.
(Xinhua News Agency June 15, 2003)