Posted 2/15/2024, 10:00:49 PM
Chinese Households Seek Stability By Stockpiling Deposits, Gold Amid Market Slumps
- Chinese saving money in bank deposits as housing and stock markets decline, seeking predictable returns
- Wealthy Chinese buying large-denomination CDs, gold, and insurance to preserve wealth amid uncertainty
- New household bank deposits in China surged in 2022 and remained high in 2023 as investments soured
- China became top global consumer of gold in 2022 as households view it as safe haven asset
- Entrepreneur families using insurance policies and overseas trusts to protect generational wealth
