On bank withdrawals by Chinese consumers.

• Author: Rees, Matthew
• Position: China - Brief article

"China's prodigious savers pulled record amounts of money out of bank deposits in May, most of it thought to be flowing into the booming stock market, according to the People's Bank of China. Numbers issued by the bank yesterday showed net household deposits in the Chinese banking system fell by Rmb278.4 billion (18.5 billion [pounds sterling]) in May to Rmb17,100 billion, the second month of record outflows after households took Rmb 167.4 billion out of the system in April."

"Household deposits fell last...