October retail sales in China rose 7.2 per cent year-on-year, a near 16-year low. Photo: AP

China’s rising household debt a ‘major concern’ as government tries to boost consumption amid trade war

  • Household debt in China hit 60.4 per cent of its gross domestic product at the end of 2018, according to the People’s Bank of China (PBOC)
  • The rapid growth of household debt has raised concerns among policymakers and analysts at the same time the government tries to boost consumption
Topic |   China economy
October retail sales in China rose 7.2 per cent year-on-year, a near 16-year low. Photo: AP
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