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
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China economy
Household debt, which includes mortgage loans and credit cards, accounts for 52 per cent of China’s gross domestic product. Photo: Bloomberg
The future of the World Trade Organisation is threatened by a fundamental divide among its members. Photo: Reuters
China refuses to give up ‘developing country’ status at WTO despite US demands
- Beijing calls the special and differential treatment a ‘fundamental right’, says it will not cede to Donald Trump’s demands on World Trade Organisation reform
- China says it will team with other developing members, including India, South Africa and Venezuela, to win the battle over future of WTO
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US-China trade war
The future of the World Trade Organisation is threatened by a fundamental divide among its members. Photo: Reuters