Jibingxin Han

The elevated savings rate is a symptom of households’ low confidence about the future and expectations that capital or property markets will not provide better returns. A modest decline in deposit rates, however, is unlikely to …

The M1-M2 divergence signals that some of the money being created isn’t being used. Banks are under pressure to lend, but there aren’t enough takers, so they may be dishing out loans to accommodating state-owned enterprises who then just sit on the money.  The PBoC may …

Doing more to channel financing to the private sector could go a long way toward stimulating growth – and top leadership, notably Premier Li Qiang, has…