200 Billion Of Wenzhou Investors Spend Their Money On Banks For The Winter.

Xinhua Zhejiang channel 24 September, the Wenzhou Municipal Central sub branch of the people's Bank of China announced in the three quarter of 2008 urban inventory survey shows that the investment willingness of Wenzhou investors is continuing to decline - the three quarter of 2008, Wenzhou urban residents will invest 27.25%, respectively, compared with the previous quarter and the same period last year dropped 6.25 and 32.25 percentage points, the lowest level since the three quarter of 2005. The latest data of Wenzhou Banking Regulatory Bureau obtained by the first financial daily also showed that the investment funds of Wenzhou investors are returning to banks in various forms. As of the end of 8, the balance of savings deposits of Wenzhou banking institutions reached 199 billion 430 million yuan, 29 billion 60 million yuan higher than the beginning of the year, and Wenzhou investors are beginning to tend to be cautious and conservative. Statistics show that the current savings deposits in Wenzhou increased by 20 billion 720 million yuan over the same period last year, an increase of 17.06%, an increase in recent years and a seven month growth trend. Among them, regular savings increased by 22 billion 640 million yuan over the beginning of the year, accounting for 77.9% of the total savings. Yao Zheng, executive director of the capital market and accounting research center of Zhejiang University, said: "deposits have increased a lot, indicating that residents have withdrawn most of the funds from the property market and stock market. Because there is no suitable investment channel, and there is doubt about future economic growth, the residents' funds can only be returned to bank savings." () the Wenzhou municipal sub branch of the people's Bank of China reported that the decline of residents' willingness to invest was mainly manifested in the further disfavor of stocks and fund investments. In the three quarter of 2008, the willingness of residents to invest in stocks and funds was only 5.25%, which decreased by 13.75 and 45 percentage points respectively from the previous quarter and the same period last year. Residents' willingness to invest in low risk areas such as bonds and insurance increased significantly, accounting for 22%, representing 5.5 and 12.75 percentage points higher than the previous quarter and the same period last year. However, while the willingness to invest is decreasing, the willingness to consume rises. According to the survey, in the three quarter of 2008, 25.75% and 7% of the current expenditure choices were willing to "spend more" or even "borrow money", the willingness to spend was 32.75%, up 8.75 percentage points from the previous quarter. Among them, the willingness to consume large items increased significantly, up 7 percentage points from the previous quarter. The above situation is in sharp contrast to that of the same period last year. 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 the residents in the three quarter of the city, including stock and fund, accounted for 41.25% of the stock market investment, and savings accounts for 37.5%, which was 5.25 percentage points lower than that of the previous quarter. This is the first time that Wenzhou has seen this phenomenon. At the same time, it has been called "Wenzhou people have changed the unique investment orientation of not investing in stocks". But this year has been different from the past -- statistics of Wenzhou securities and Futures Association show that even if the number of accounts continues to increase, Wenzhou's stock trading volume will continue to decline. In August, Wenzhou's total securities trading volume was 32 billion 103 million yuan, the lowest in nearly 20 months. Yao Yao Zheng analysis, in the current tight monetary background, Wenzhou residents' savings deposits continue to grow, or will bring certain incremental credit to Wenzhou. At present, the proportion of savings deposits of the city's residents accounts for 51.05% of the deposits of the financial institutions, which is the main source of credit funds for financial institutions. Wenzhou banking regulatory sub bureau also said that in the first half of this year, Wenzhou's foreign currency loans increased by 29 billion 425 million yuan compared with the beginning of the year. According to the current situation, it is estimated that the annual loan increments in Wenzhou will exceed the level of last year, and it is expected to reach 60 billion yuan. Yao Yao Zheng analysis said: "the rapid growth of deposits, banks because of the needs of interest, there is the impulse to lend, which is perhaps a positive for the capital hungry small and medium-sized enterprises."