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Covid-Era Savings Are Crucial to China’s Economic Recovery
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HONG KONG—The strength of China’s economic rebound this year largely hinges on one uncertainty: whether families and large companies are willing to draw down the pile of cash they built up since the start of Covid-19.
Chinese families, constrained by Covid lockdowns, hoarded cash and pushed up the country’s household saving rate to a multiyear high of 33% in 2022, up 3 percentage points from the prepandemic trend in 2019, according to estimates by Goldman Sachs.
Read more on wsj.comAbout this in other media
Chinese Exports Pull Back Again, Hampering Post-Covid Recovery wsj.com /1 year ago
China’s Inflation Rate Slows to One-Year Low, Casting Doubt on Recovery wsj.com /1 year ago
Chinese Exports Pull Back Again, Hampering Post-Covid Recovery wsj.com /1 year ago
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