Renminbi savings in Chinese banks exceeded loans by 11 trillion yuan (about 1.41 trillion U.S. dollars) last month, imposing too much pressure upon commercial banks and indicating excessive liquidity in the country.
The ratio between loan and saving dropped to a record low of 66.74 percent, statistics from the People's Bank of China, the center bank, showed.
More and more money is now flowing to Chinese banks, while banks find it difficult to lend with good return rate. In January, the margin was 9 trillion yuan, 2 trillion lower from now, the central bank said.
As banks need to pay interests to depositors, the huge gap between loan and deposit will pressure commercial banks to loose credit reins and thus rebound local investment.
A large part of such fund may flow into the security market, especially the bullish stock market, deteriorating the liquidity problem, experts said.
Meanwhile the rocketing foreign trade surplus has caused the central bank to increase Renminbi input into the market to buy foreign exchange.
During the past eleven months, China's trade surplus reached 156.521 billion U.S. dollars, up 42 percent year on year.
The influx of foreign exchange contributed about one third of the country's monetary supply, analysts said.
Banks' RMB equivalent for forex holding went up by 339.4 billion yuan in December, after an increase of 405.8 billion and 348.9 billion yuan in June and September respectively.
If the trade surplus continues to rise, the problem of excessive liquidity will be exacerbated.
The growth of RMB equivalent for foreign exchange purchase has directly led to capital overflow, which in turn gave rise to the investment fever and inflation.