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中国消费者个人负债达历史高点 - 2017年01月10日
Consumer debt: It’s swim or sink in rising credit tide
CHINESE millennials don’t have that thrifty streak that led their parents and grandparents to be called a nation of savers. Instead, they want to shop, shop, shop, and it’s causing a borrowing binge in consumer credit.
In fact, personal debt levels are now at a record high. Lending channels, both mainstream institutions and newer non-financial entities, are readily expanding into what is a trillion-yuan business.
Explosive loan growth at Ping An Puhui, the consumer finance arm of one of the biggest Chinese insurers Ping An Group, is an example of the trend.
