# Zhejiang

China’s Households Save More, Borrow Less: Big Provincial Deposits Rise Masks Weak Consumption

Provincial 2025 banking data show household deposits climbing rapidly across several provinces while household short-term loans shrink, signalling greater risk aversion and subdued consumption. Corporate lending, by contrast, expanded robustly, driven by policy support and firms’ financing needs, leaving regulators with the task of converting high savings into stronger domestic demand.