BUSINESS Deposits rise in Yangtze River Delta in 2019

BUSINESS

Deposits rise in Yangtze River Delta in 2019

Xinhua

13:12, February 03, 2020

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File photo

BEIJING, Feb. 3 (Xinhua) -- The Yangtze River Delta, a leading growth engine in China, saw more deposits in 2019, official data showed.

The balance of local and foreign currency deposits in the Yangtze River Delta region was 47.6 trillion yuan (6.92 trillion U.S. dollars) at the end of 2019, up 9.9 percent year on year, according to the Shanghai Head Office of the People's Bank of China.

The growth rate was 1.3 percentage points higher than the national deposit growth rate and 1.9 percentage points higher than the previous year.

The balance of local and foreign currency deposits accounted for 24 percent of the country's total, 0.3 percentage points higher than the previous year.

At the end of the year, the balance of RMB deposits in the region was 45.88 trillion yuan, up 10.1 percent year on year, and the growth rate was 1.8 percentage points higher than the previous year.

The balance of foreign currency deposits in the region was 247.2 billion U.S. dollars at the end of 2019, up 4 percent year on year. New foreign currency deposits stood at 9.4 billion U.S. dollars last year, an increase of 17.4 billion U.S. dollars year on year.

The Yangtze River Delta includes Shanghai and the provinces of Jiangsu, Zhejiang and Anhui in this calculation. 


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