How serious is China’s debt problem? Yet a more severe challenge comes from rising household debt leverage. Distrurbingly, 40 percent of the latter group had no savings, which means that as many as 560 million Chinese cannot make ends meet. The latest data showed that China’s total household debt was 40 trillion yuan. About 170 million Chinese, the so-called “post-1990s” generation, contribute 20 trillion yuan of total household debt, with each person liable for 120,000 yuan.

Source: Taipei Times November 08, 2019 16:06 UTC