央行调查：三季度倾向“更多投资”占比提升，为近两年新高

Core Insights - The report indicates a significant shift in residents' financial behavior, with an increase in the proportion of those inclined towards "more investment" by 5.6 percentage points, reaching 18.5%, the highest since Q2 2023 [2][4][3] Group 1: Investment Trends - The proportion of residents inclined towards "more investment" has risen to 18.5%, marking a notable increase from previous quarters [4] - The overall inclination towards "more consumption" and "more savings" has decreased by a total of 5.6 percentage points in Q3 2025, indicating a shift in focus towards investment [3] - The financial data suggests a trend of residents reallocating their savings from traditional deposits to capital markets, particularly in the context of a recovering stock market [12] Group 2: Savings and Consumption - The inclination towards "more savings" stands at 62.3%, which is a decrease of 1.5 percentage points from the previous quarter, yet it remains higher than the 58% recorded in Q1 2023 [2][4] - The report highlights that the total household deposits have increased by 22.71 trillion yuan in the first three quarters of 2025, with household savings specifically rising by 12.73 trillion yuan [2] - The top five preferred investment methods among residents include "bank non-principal guaranteed wealth management," "fund trust products," "stocks," "bonds," and "non-consumption insurance," with respective proportions of 36.0%, 26.4%, 17.2%, 14.8%, and 11.1% [12] Group 3: Economic Outlook - The cautious attitude of residents towards future economic expectations is evident, as indicated by the analysis of income and consumption data [13] - The government emphasizes the need to enhance residents' consumption capacity and willingness through stable employment and income growth [13] - The survey conducted by the People's Bank of China serves as a key indicator of consumer and investment potential, reflecting broader economic sentiments [13]