Household savings climbed to a record Yn10,000bn in February, according to the People’s Bank of China, an increase of 18 per cent on a year previously. Meanwhile, consumer prices rose 2 per cent in February from a year earlier, said the National Bureau of Statistics. It followed a 0.4 per cent increase in January, the first rise in 15 months.
China’s fixed asset investment rose by one-third in the first two months of 2003.Total investment stood at Yn193.6bn, of which Yn93.9bn was spent on infrastructure projects and
Yn59.8bn on real estate developments. Economist Zhou Jingtong from the State Information
Centre said fixed-asset investment would grow at an even higher rate for the whole year.