Bank deposits on the rise

SHANGHAI: A substantial increase in corporate deposits helped the city's financial institutions to a 13.7 percent year-on-year surge in the total for August, as funds returned from the soaring stock market.

The outstanding value of deposits at the city's financial institutions stood at 2.86 trillion yuan on August 31, the Shanghai branch of the People's Bank of China said.

August also saw more than 88.1 billion yuan in new deposits - the highest for the period and a year-on-year increase of nearly 44 billion yuan.