China Tells

The last decade is a dream decade for China’s economic growth (See Article from Chinatells). However, it is not clear whether the consumer sector benefited as much as the government sector. Some observation might provide indirect hint. For example, the government’s deposit in the banks has increased from about 5 Trillion RMB in 1998 to 22 Trillion in 2010, a compounded annual growth rate of 24.4%. In contrast, the corporate sector achieved a CAGR of 17.5% while the private consumer saving only grew a CAGR of 14.1%. Such a contrast in terms of deposit growth might explain partly why the consumption ratio of China is not going up like other countries (See Graph from Chinatells).

中国经济在过去10年的发展可谓是黄金10年，令世界其他国家望尘莫及。但是经济发展的大部分好处落入哪个群体却是很难看清楚的一个问题。根据最新统计，看起来消费者的银行存款在十年间仅以每年14.1%的速度增长，远远低于公司部门（17.5%）和政府部门（24.4%）的存款增速。管中窥豹，由此可见消费者在经济发展中受到的好处似乎不及政府和企业。