Weekend Long Read: How to Get China’s Super Savers to Spend More

Chinese people have continued to save at a high rate, indicating that they remain reluctant to spend and tend to favor precautionary savings.

Precautionary savings is a term that typically describes a phenomenon in which the savings rate of residents is higher than normal, as growth in their income significantly outpaces that in their spending. The savings rate aims to measure how much of their total disposal income they save, with savings including bank deposits and investments in wealth management products.