Why debt-shy Chinese consumers may snub loan subsidy scheme
spur spending is likely to be tested by a deeply ingrained public attitude: saving.
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.
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