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’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

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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