Savings in Chinese banks rose by 17.8 per cent in 2002 to reach a record Yn8,700bn, with average per capita disposable income rising to Yn7,500, 10 per cent higher than in 2001, Xinhua reported. Urban household assets increased to an average of Yn228,000 per household, while urban financial assets rose to an average of Yn80,000. However, fewer than 7 per cent of Chinese consumers owned shares, the lowest level in two years.
The statistics were compiled by the State Council's development research centre, whose economist Ren Xingzhou said that the government needed to improve the utilisation of excess capital and build a stronger consumer credit system.