May saw an increase of more than 2 trillion yuan in Renminbi deposits, with three main reasons leading to the discrepancy between the growth of deposits and loans.

The latest financial data released by the People's Bank of China on June 13th showed that in May, new RMB loans increased by nearly 620 billion yuan, and new RMB deposits increased by nearly 2.18 trillion yuan. In regard to the difference in monthly growth between deposits and loans, authoritative experts pointed out that this is mainly a reflection of the diversification of financial institutions' assets and changes in financing structure. Firstly, it is necessary to take a longer-term perspective on the growth of deposits and loans. Secondly, it is necessary to consider on-balance sheet deposits and off-balance sheet wealth management products together. Thirdly, the channels for banks to derive liabilities have become more diversified.