Chinese on average put away 30.6 percent of their disposable income, amounting to 6.9 trillion yuan in total household savings in China in 2012.
China’s leaders want these super savers to open their wallets and boost a slowing economy.
Middle-class Chinese like Han pinch pennies to pay for ever-more costly city apartments and save for their children’s education costs. The working class also hoards yuan.
Twenty-six-year-old Sichuan native Wei Yinping, a worker in a Shenzhen watchband factory, worries about paying for medical care if she or her parents become seriously ill.
She saves almost half her monthly salary of 2,500 yuan.
Read more...“I want to get married and have a child, which will cost lots of money.“
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