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Article: ANALYSIS: YUAN APPRECIATION STIMULATES SAVING DESIRE OF CHINESE.
- Article from:
- AsiaPulse News
- Article date:
- September 14, 2005
CopyrightCOPYRIGHT 2005 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BEIJING, Sept 14 Asia Pulse - The 2 per cent appreciation of the Chinese currency on July 22 has again stimulated the saving desire of Chinese people and many people were converting their foreign currency deposits into the local currency, according to results of a questionnaire survey released by the People's Bank of China, the central bank, on September 13.
The quarterly survey was done by the central bank in 50 Chinese cities of different sizes in mid- and late August.
According to the survey, the saving desire for the third quarter rebounded quickly despite a four percentage-point drop for the second quarter. At the current price and interest rate ...