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December 21, 2007


Losing Less Money on Chinese Bank Deposits — Yippee!

China Raises Rates to Nine-Year High on Inflation

“The one-year deposit rate will rise by 0.27 percentage point to 4.14 percent. Consumer prices rose 6.9 percent in November … House prices in 70 major cities jumped 10.5 percent in November from a year earlier. The CSI 300 Index has climbed 147 percent this year.”

Gotta love it when the negative real returns on bank deposits narrow a tad. And thank god that our apartment, which I conservatively estimate is worth around $200,000, is priced at nearly three quarters of a million dollars. Don’t even get me started on the stock market here, lol.

This entry was posted on Friday, December 21st, 2007 at 5:07 pm (utc+8) and is filed under China.

2 Responses to “Losing Less Money on Chinese Bank Deposits — Yippee!”

  1. Tom in DC said:
    December 22nd, 2007 at 2:37 am

    What’s your rent in USD terms?

  2. C. Maoxian said:
    December 22nd, 2007 at 8:50 am

    TominDC: We don’t rent, we own, but if we did rent, this place would be around 10,000 CNY a month (~US$1360) — price to rent ratio around 550. :-)

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