BNP Paribas Chairman: Improving Household Savings Allocation Will Facilitate Consumer Growth | China Development Forum

WealthCoffee · 2026-03-24T14:16:29+00:00

At the China Development Forum, François Pérol, Chairman of BNP Paribas, pointed out that promoting the transformation of resident savings to unlock consumption potential is key. He noted that China's savings rate reaches 43%, far exceeding other countries, and household wealth is mainly concentrated in real estate and low-interest products.

WealthCoffee

2026-03-24 14:16:29

Abstract generation in progress

Caixin: “Promoting the transformation of residents’ savings and thereby releasing China’s consumption potential is a key issue.” At the China Development High-Level Forum 2026 Annual Conference on “New Trends and Opportunities in Consumption Growth” held on March 22, Jean Lemierre, Chairman of BNP Paribas, stated.

“China’s savings rate is very high, nearly 43% of disposable income; Japan’s rate is about 35%, nearly 10 percentage points lower than China’s; Europe is around 20%, half of China’s; South Korea is about 10%, a quarter of China’s; the United States is 5%, several times less than China.” He added that real estate still accounts for 60%–70% of Chinese household wealth; the remaining portion is concentrated in low-interest products, mainly deposits or short-term products.

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