Di thn 2005 ekonomi Tiongkok masih tumbuh sebesar 9.8%, dan jumlah tabungan personalnya masih di angka 40% dari pendapatan per capita rata rata Rmb 10.000 (US$1 = Rmb 8,2).
Rakyat di Tiongkok dalam keadaan "free market" menjadi lebih hemat lagi krn harus memikirkan pengeluaran besar seperti papan, pendidikan, kesehatan, hari tua. Tentu beda dng rezim socialist dimasa lalu yang ber kebijakan from cradle to grave.
Rakyat di Jerman Timur semasa baru bergabung juga mengeluh, dulu biar mesti kudu harus wajib ngantri tapi ga pusing. Sekarang semua mesti dikerjakan dan di ikhtiarkan sendiri dalam alam demokrasi.
Rata rata dunia, tingkat tabungan hanya 20%. Lantas uang sebanyak itu harus diputarkan oleh lembaga keuangan yang menyimpan, belum masih banyak sekali uang tunai disimpan dibawah bantal, di dalam jerami di desa desa karena sistim lembaga keuangan di TIongkok masih dalam fase infancy, termasuk di soal pengelolaan kekayaan secara profesional spt digambarkan di kliping dibawah ini.
Personal savings hit record US$1.7 trillion
By Zhang Ran (China Daily)
Updated: 2006-01-17 05:39
China's personal savings rose to a record 14 trillion yuan (US$1.7 trillion) at the end of last year, mainly because people put aside more money to pay for education, health care and housing, analysts said yesterday.
 A resident counts RMB banknotes at a branch of Agriculture Bank of China in Liaocheng, East China's Shandong Province January 16, 2006. [newsphoto] |
The figure was 12.6 trillion yuan (US$1.56 trillion) for 2004.
Yet, even as people get richer, they have become more cautious in their spending.
"People are forced to save for future expenditure," said Peng Longyun, a senior economist with the Asian Development Bank's Resident Mission in China.
According to an earlier report by the Chinese Academy of Social Sciences, education, housing and medical costs have become the "three mountains" weighing on the shoulders of the Chinese people.
In addition, culture and tradition are also factors behind the high savings rate.
"Compared to Americans, Chinese people are more inclined to save their money in banks rather than spend it," said Qi Jingmei, a senior economist with the State Information Centre.
The lack of sophisticated wealth-management services and products also contributes to high savings.
"Wealth management in China is still in its infancy. Although people want to invest, they don't have many channels." Qi said.
She added that services provided by banks for common people are particularly limited, leaving them with no option but to save.
Public consumption contributed only 37.8 per cent to China's gross domestic product in 2004, compared to 60 per cent in the United States.
Critics have noted that China's economy relies too much on investment, which accounts for 48.1 per cent of its GDP.
The government has already announced tax policies to redress the balance between investment and consumption, such as raising the threshold for personal income tax.
Yet the country is unlikely to see a big surge in consumer spending in the next few years, said Qi.
"Spending is individual behaviour. I am afraid the high saving rate will last for 10 years," she said.
In the past decade, Chinese spent only 60 per cent of their income, compared to nearly 80 per cent worldwide, according to the National Bureau of Statistics.
(China Daily 01/17/2006 page1)
China's 2005 GDP grew at 9.8 percent
(AFP)
Updated: 2006-01-17 21:07
China's economy grew faster than expected 9.8 percent last year, the country's tax bureau said, after a major revision upwards last month of the size of the economy in 2004.
 The clock tower at Beijing railway station. China's economy grew faster than expected 9.8 percent last year, the country's tax bureau said. [AFP] |
Xie Xuren, director of the State Administration of Taxation, said at a briefing in Beijing that the Chinese economy grew at 9.8 percent while industrial production was estimated to have expanded by 19 percent.
Ou Xingqian, vice-director of the National Development and Reform Commission, also said this month that gross domestic product ( GDP) last year grew by 9.8 percent.
The government recently revised 2004 GDP growth up to 10.1 percent following a year-long survey aimed at rectifying the reporting of inaccurate economic statistics.
That revision showed the total value of China's economy at the end of 2004 was in reality 16.8 percent, or 284 billion dollars, more than previously estimated.
The miscalculation, mainly in the service sector, meant China passed Italy to become the world's sixth largest economy with total GDP of more than 1.97 trillion dollars.
The revised 2005 growth figure of 9.8 percent from Xie and Ou is not the final official number, which will be released by the National Bureau of Statistics when it reports the annual economic data late this month.
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