China’s household leverage ratio surged to 49 per cent at the end of last year, from 17.9 per cent at the end of 2008. Photo: AFP

Famous for hoarding cash, Chinese families are now racking up debt on an unprecedented scale

But they still have far more savings than debts, according to researchers

Topic |   China economy

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China’s household leverage ratio surged to 49 per cent at the end of last year, from 17.9 per cent at the end of 2008. Photo: AFP
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