Central bank figures show fall in household deposits last month

The latest figures from the People's Bank of China show that household deposits fell by 1.32 trillion yuan (207 billion US dollars) in April, according to a report in Securities Times. 

The figures from China's central bank represent the largest monthly decline in household deposits so far. The Securities Times report attributes it to the dip in the domestic economy that started last year. 

[File Photo: Xinhua]

Household deposits also fell sharply last April and October, with the downward trajectory showing signs of becoming a long-term trend. If the trend continues, the report warns that it will have an impact on investments, which may in turn cause a further slowdown in economic growth.