Sep
05

China’s $29 Trillion Ball of Money Rolls to a Long-Ignored Haven

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  • Investors flee tumbling stocks, P2P losses, debt defaults
  •  ‘Where is the safe place to put our hard-earned savings?’

The new hot thing for Chinese savers is about as old and boring as it gets.

Bank deposits, shunned for years by the nation’s return-hungry masses, are suddenly looking attractive again as higher-yielding investments prove riskier than many had anticipated. China’s household deposits rose in July at the fastest annual rate in a year — an influx that analysts say may accelerate after the nation’s stock market sank at the quickest pace worldwide, hundreds of peer-to-peer lending platforms shuttered and companies defaulted on their debt at an unprecedented rate…

China’s $29 Trillion Ball of Money Rolls to a Long-Ignored Haven

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Categories : Finance

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