Household debt, which includes mortgage loans and credit cards, accounts for 52 per cent of China’s gross domestic product. Photo: Bloomberg Household debt, which includes mortgage loans and credit cards, accounts for 52 per cent of China’s gross domestic product. Photo: Bloomberg
Household debt, which includes mortgage loans and credit cards, accounts for 52 per cent of China’s gross domestic product. Photo: Bloomberg
China economy

China’s new credit rating system will even monitor people’s utility bill payments

  • System developed by central bank to help government better control debt likely to be introduced soon, state media says
  • But prevalence of shadow banking means official databases can only know part of the story, analyst says

Topic |   China economy
Household debt, which includes mortgage loans and credit cards, accounts for 52 per cent of China’s gross domestic product. Photo: Bloomberg Household debt, which includes mortgage loans and credit cards, accounts for 52 per cent of China’s gross domestic product. Photo: Bloomberg
Household debt, which includes mortgage loans and credit cards, accounts for 52 per cent of China’s gross domestic product. Photo: Bloomberg
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