Source: China – South China Morning PostAs China rolls out subsidies for personal consumer loans, covering part of the interest costs, Beijing’s latest effort to spur spending is likely to be tested by a deeply ingrained public attitude: saving.
For many Chinese households, including Mary Lin, a 54-year-old primary school teacher, borrowing to spend remains unimaginable.
“Except for a mortgage, I’ve never taken out a bank loan in my life,” she said.
“Taking out a bank loan to spend isn’t popular for people of our generation, unless…Read More