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

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