In the land of China, an economic phenomenon is quietly growing, and that is the culture of savings. There is a saying among the people: it is better to save money than to save money, thanks to the enthusiasm of our people, our country's banking business can be described as prosperous. However, not everyone can understand the misunderstandings and risks buried in this, so let's talk about this topic today.
In China, the matter of deposits can be said to have a long history. Since ancient times, ordinary people have the habit of saving money for the winter and saving money to prevent old age. No, the epidemic is rushing, and everyone is tightening their money bags, for fear that one day they will fall ill or lose their jobs. As a result, by 2023, the total savings of residents in our country will have climbed to an astonishing 140 trillion yuan, and there will be 100,000 yuan in deposits per capita. That's three times more than three years ago! Think about it, what a mountain of money it has to be.
Let's talk about our bank, which is called a bull rage. It is also well-known in the world, such as our Industrial and Commercial Bank of China, China Construction Bank, and Agricultural Bank of China, all of which are ranked in the forefront of the Forbes Global 2000 companies, which is really a long face for us.
But then again, money doesn't come in the wind, and you can't blindly trust the bank. After all, banks are not a panacea safe deposit box, and they are also subject to failure. United States collapse of Silicon Valley Bank is a wake-up call for us. Isn't there an example of a bank bankruptcy in China? Baoshang Bank and Hainan Development Bank are all bloody lessons.
So, how should we save money to be safe? Next, let's give everyone a little bit of dialing. In China, there are three banks that claim to never fail: the Industrial and Commercial Bank of China, the China Construction Bank and the Agricultural Bank of China. They are not only large state-owned banks, but also have a long history and a service network all over the country and even the world, so there is naturally nothing to say about security.
Our Agricultural Bank of China was founded in 1951, which witnessed the growth of New China. Its business covers agricultural credit, settlement, fund management, financial leasing, and is simply all-encompassing. In 2010, the assets exceeded 10 trillion yuan, which is a real foundation.
Let's talk about the Industrial and Commercial Bank of China, a bank established in 1985, although it is young, it has developed rapidly, and its total assets have reached 44.7 trillion yuan, making it a proper banking giant. It has been rated as the "Best Bank" by Global Finance for many times, and its business involves RMB, foreign exchange finance, and loan services.
Finally, China Construction Bank, although it started late, is not slow to develop at all. Its business has blossomed from the initial financial appropriation to today's resident savings, foreign exchange business, and credit card business. In 2016, it ranked second in the "Top 1,000 Banks in the World", which is not a cover.
Speaking of which, you may think that since these big banks are so safe, then I can't just deposit all my money in these big banks. Wait, it's not that simple. In fact, in addition to the central bank, other small banks and local banks are not impossible to consider. Our country's savings insurance system is guaranteed, even if a small bank fails, deposits of less than 500,000 yuan can be fully compensated. If it exceeds 500,000 yuan, it can only be made up to 500,000 yuan at most, which everyone must pay attention to.
This requires us to allocate assets reasonably and not put all our eggs in one basket. If you have to keep all your money in one bank, choose the big ones that are guaranteed to be at least reassuring in terms of security.
Of course, we can't just look at the interest on the deposit. Nowadays, interest rate reductions are the general trend, and the value of bank savings is getting lower and lower. At this time, we have to use our brains to see if there are other investment channels. For example, the purchase of wealth management products, gold, etc., can be considered.
In short, saving money is important, but how to save, where to save, and how to distribute it is a university question. That's all for today's sharing, I hope it will be helpful to you. We'll talk about it next time.