Sep
05
China’s $29 Trillion Ball of Money Rolls to a Long-Ignored Haven
By-
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
