Boosting consumption is a top priority for Beijing, but some habits are hard to break
For many Chinese households, including Mary Lin, a 54-year-old primary school teacher, borrowing to spend remains unimaginable.
“Except for a mortgage, I’ve never taken out a bank loan in my life,” she said.
“Taking out a bank loan to spend isn’t popular for people of our generation, unless it’s for something like buying a home.”
Even for younger people like 25-year-old Sally Wan, debt-fuelled spending remains unattractive – even if she does not rule it out entirely.
