Bank Deposits "Flowing Away"? The Central Bank's Latest Report Provides Authoritative Clarification

In the third quarter of 2025, the growth rate of residents’ deposits slowed from high levels, attracting increased attention from all parties, and some discussions about “loss” of bank deposits emerged. On February 10, the People’s Bank of China released the “Q4 2025 China Monetary Policy Implementation Report,” which merged asset management products with bank deposits in its analysis, providing a new perspective for assessing monetary financing conditions and liquidity environment, and offering interpretations and responses to this widely discussed market phenomenon. An industry expert stated that in recent years, against the backdrop of declining interest rates, some residents and enterprises may have adjusted their asset allocations, investing more in bank wealth management and asset management products. In the long term, as China’s financial markets continue to deepen and investment channels become more diversified, residents will reasonably adjust their asset allocations based on different asset returns, balancing deposits and other assets. In the future, residents’ asset distribution may become even more flexible. (First Financial)