终于把存款逼出银行了？2025年7月央行最新数据，钱去哪儿了

Core Insights - The total savings deposits in Chinese banks decreased by approximately 427 billion yuan in Q2 2025 compared to Q1 2025, indicating a significant decline in residents' willingness to save in banks [1] - The savings willingness index dropped to its lowest point in nearly five years at 78.3, down 12.6 percentage points from the same period in 2024 [1] Group 1: Shift in Savings Behavior - Residents are increasingly directing their savings into bank wealth management products, which have become more attractive due to lower bank deposit rates [2][4] - The annualized return on bank wealth management products ranges from 2.3% to 2.8%, compared to a 3-year deposit rate of only 1.55% [4] - The scale of bank wealth management products exceeded 35 trillion yuan in Q2 2025, reflecting a year-on-year growth of 19.8% [4][5] Group 2: Investment Trends - Stock market investments have gained attention, with 12.5 million new A-share accounts opened in the first half of 2025, an increase of 18.7% year-on-year [7] - A net inflow of 689 billion yuan into the A-share market was recorded in the first seven months of the year, with a significant portion coming from funds that would have otherwise been deposited in banks [7] Group 3: Mortgage Prepayment - Many residents are opting to prepay their mortgages as a response to declining deposit rates and rising investment risks, with personal housing loan balances decreasing by 852 billion yuan in the first seven months of 2025 [9] - Prepaying mortgages is viewed as a more favorable asset allocation strategy given the current interest rate environment [9] Group 4: Consumer Spending - There has been a rebound in consumer demand, particularly in the mid-to-low-end markets such as dining, entertainment, and tourism, as residents withdraw savings for consumption [11] - Domestic tourism reached 3.08 billion trips in the first half of 2025, a year-on-year increase of 18.5%, with total tourism revenue surpassing 3.2 trillion yuan [11] - The number of outbound tourists grew by over 40% to 89.5 million [11]