Wenzhou'S Massive Withdrawal Of Private Capital

This year, Wenzhou's banking sector has added nearly 20 billion yuan to its savings account.

Affected by the persistent volatility of the stock market, private capital in Wenzhou began a large-scale retreat.

A recent credit analysis report shows that Wenzhou's private capital is "returning" to banks in various forms. Since this year, the bank savings balance in Wenzhou has increased by a month, and the new deposits have reached nearly 20 billion yuan.

According to the credit analysis report of Wenzhou banking regulatory bureau, as of the end of 4, the balance of savings deposits of Wenzhou residents in various banking financial institutions amounted to 185 billion 109 million yuan, an increase of 19 billion 986 million yuan over the beginning of the year, an increase of 12.1%%, an increase of 12.4%% over the same period, of which the regular savings increased by 16 billion 195 million yuan over the beginning of the year, accounting for 86.8%% of the total savings increase.

The increase of per capita savings in Wenzhou is related to the rapid growth of property income and operating income of Wenzhou residents. The Wenzhou banking regulatory sub bureau also believes that with the increase of bank interest rates, the public's willingness to save increases significantly. Some people think that "moderate interest rates", the current increase in storage is the most cost-effective.

Private capital in the property market and stock market "feather and return" is also one of the major reasons for the increase of savings deposits in Wenzhou's banking sector.

Wenzhou Banking Supervision Bureau believes that "this year, influenced by the fluctuation of capital market, investment is low, the property market is hovering, especially in the current stock market turbulence. Many investors are in a deficit and the heat is decreasing. The original stock in the stock market is taken out and converted into household savings."

In the three quarter of last year, the Central Bank of Wenzhou branch of the people's Bank of China released data after a questionnaire survey that the share of the most important financial assets of households in the three quarter of the city, including stocks and funds, accounted for 41.25%%, while savings accounts for 37.5%%, down 5.25 percentage points from the previous quarter. This is the first time that Wenzhou has seen this phenomenon, once known as "Wenzhou people have changed their unique investment orientation of not investing in stocks."

At present, Wenzhou's private capital is being withdrawn from the stock market.

According to the latest statistics of Wenzhou securities and Futures Association, the number of new accounts in the first quarter of this year is decreasing month by month.

For the rapid growth of savings deposits and the withdrawal of private capital from the stock market in the banking sector, Yao Zheng, executive director of the capital market and accounting research center of Zhejiang University, said that the sensitivity and profitability of private capital in Wenzhou determine where business flows and where capital flows to. "No matter whether the stock market or the property market, as long as the market is bad, the attractiveness of private capital is greatly reduced."