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Sign purchasing power on the up

By Zhang Zhouxiang | China Daily | Updated: 2019-08-27 07:09

ACCORDING TO CHINA'S CENTRAL BANK, the number of domestic credit card holders increased by 20 percent in 2018. China Daily writer Zhang Zhouxiang comments:

The report released by the People's Bank of China says the phenomenon represents "a fall in delayed consumption preference". In other words, fewer Chinese people want to save money.

Why did that happen? On social media, a common comment was, "I would if I had enough money to save". But that is what everybody says, you never hear anybody boasting she/he has more than enough money to spend.

Sign purchasing power on the up

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