The idea of ​​the Chinese to take precautions has led the Chinese to be willing to save money. Be prepared, prepare enough money for unexpected things in the future, and reserve enough money for major life events such as college, car, house, and marriage for the next generation from the birth of your children. This makes China the country with the highest savings rate in the world.

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However, with With the development of China’s economy and the improvement of people’s living standards, although China’s savings rate is still the highest in the world, it has shown a”cliff-like” decline compared with before.

China’s savings rate soared from 35.6%in 2000 to 51.8%in 2008. The growth rate during this period was as high as 16.2%, but it has never been since 2008. There has not been such a high rate of growth in savings. Even since 2010, China’s national savings rate has begun to decline. According to the forecast of IMF, China’s national savings rate will continue to fall to nearly 40%before 2022.

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the savings rate What is the phenomenon behind the decline?

First, we must first understand what is the savings rate. The savings rate refers to the percentage of personal savings in total disposable income. The higher the savings rate, the lower the amount that people can consume, and the lower the amount that can be consumed, the lower the country’s consumption power.

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Now, now China’s savings rate has shown a “cliff-like” decline, which proves that the people’s disposable income has increased and the consumption power has increased. So people’s money is no longer in the bank, so where does it go? The main reason for the decline in bank savings rates is actually very clear.

First of all, it is naturally the change of people’s consumption concept

not like the old People of the first generation, the younger generation, are more inclined to enjoy the present. The money they make today is spent today, and they can even choose to spend the money in the future.

In order to meet the consumption concept of contemporary young people, lending software has also been born, such as credit cards, Alipay’s Huabei, JD’s Baitiao, etc., which have further promoted people’s Desire to consume, you can’t keep the money in your hand, and you can’t help spending future money. In this case, where is the remaining money deposited in the bank?

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Secondly, the pressure of buying a house or a car

If people’s money is not deposited in the bank, it must be handed over to the bank every month. “Buying a house and buying a car” seems to be a process that every family must go through. People of the previous generation saved money to prepare for buying a house and car, but they didn’t expect the house price to rise so drastically, and the money they saved before is only enough to pay. Down payment.

After all the money deposited in the bank is used to pay the down payment for buying a house and a car, what remains is the pressure of the younger generation to start repaying loans. The money earned every month, in addition to the necessary expenses of life plus the pressure of car loans and mortgages, naturally no money is deposited in the bank.

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Finally, it is the increase in the cost of living

The rapid rise in prices is well understood by everyone, and many netizens are also wondering:Why are prices so high? Didn’t see that wages rose with the pace of prices? The increase in wages is far less than the increase in prices, which leads to an increase in people’s cost of living.

Moreover, with the improvement of living standards, people are no longer satisfied with material pursuits, and begin to pursue spiritual satisfaction, travel abroad, etc. Pen expenses.

The money earned is not enough to spend, maybe you don’t want to save money, just don’t have the capital to save it! In addition to banks, WeChat’s Lingqiantong and Alipay’s Yu’ebao have become the more popular”saving money” methods for modern people. As a result, the bank’s savings rate has naturally fallen.