Savings on the minds of Chinese

As the global economic downturn begins to bite, at least three in four Chinese place a high value on saving, according to a survey published yesterday.

The research, conducted by MasterCard Worldwide, found that 77 percent of Chinese think saving is either "important" or "very important".

However, they are less likely to save than those living in 13 other Asia-Pacific countries and regions, the survey showed.