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COPYRIGHT 2004 Asia Pulse Pty Ltd
An executive briefing on banking for March 29, 2004, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.
CHINESE RESIDENTS PREFER BANK SAVING TO SPENDING MONEY
BEIJING - Although Chinese residents' total consumption is expected to grow 9 per cent in 2004, the figure is still quite low comparing with the 19.2 per cent growth rate of their bank deposits by the end of 2003, an official report shows.
According to the report released by the Ministry of Commerce on China's consumption situation, the proportion of total consumption in China's GDP (gross domestic product) stood at 59.8 per cent in 2001, 58.2 per cent in 2002 and 57.4...
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