{"id":343636,"date":"2025-08-14T10:41:10","date_gmt":"2025-08-14T10:41:10","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/343636\/"},"modified":"2025-08-14T10:41:10","modified_gmt":"2025-08-14T10:41:10","slug":"why-debt-shy-chinese-consumers-may-snub-loan-subsidy-scheme","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/343636\/","title":{"rendered":"Why debt-shy Chinese consumers may snub loan subsidy scheme"},"content":{"rendered":"<p>As China rolls out subsidies for personal consumer loans, covering part of the interest costs, Beijing\u2019s latest effort to <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3320426\/china-doubles-down-consumer-subsidies-spur-household-spending?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"noopener\">spur spending<\/a> is likely to be tested by a deeply ingrained public attitude: saving.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">For many Chinese households, including Mary Lin, a 54-year-old primary school teacher, borrowing to spend remains unimaginable.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cExcept for a mortgage, I\u2019ve never taken out a bank loan in my life,\u201d she said.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cTaking out a bank loan to spend isn\u2019t popular for people of our generation, unless it\u2019s for something like buying a home.\u201d<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Even for younger people like 25-year-old Sally Wan, debt-fuelled spending remains unattractive \u2013 even if she does not rule it out entirely.<\/p>\n<p>Wan, an employee at a consulting firm in Shanghai who earns slightly above 10,000 yuan (US$1,394) a month, said she does not plan to take part in the new consumer loan subsidies scheme \u2013 though she previously used China\u2019s massive <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3315933\/chinas-massive-trade-programme-running-out-steam?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"noopener\">trade-in programme<\/a> to buy a computer and headphones.<\/p>\n","protected":false},"excerpt":{"rendered":"As China rolls out subsidies for personal consumer loans, covering part of the interest costs, Beijing\u2019s latest effort&hellip;\n","protected":false},"author":2,"featured_media":343637,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[80561,3801,51,1395,3235,122157,122156,48588,1700,122154,122158,12705,122155,7993,48584,10741,16,15,2581],"class_list":{"0":"post-343636","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-alipay","9":"tag-beijing","10":"tag-business","11":"tag-china","12":"tag-consumer-loans","13":"tag-consumer-subsidies","14":"tag-deflationary-pressures","15":"tag-economist-intelligence-unit","16":"tag-economy","17":"tag-gf-securities","18":"tag-huabei","19":"tag-international-monetary-fund","20":"tag-mary-lin","21":"tag-morgan-stanley","22":"tag-peoples-bank-of-china","23":"tag-shanghai","24":"tag-uk","25":"tag-united-kingdom","26":"tag-us-president-donald-trump"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115026702072589814","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/343636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=343636"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/343636\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/343637"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=343636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=343636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=343636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}