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An Eastern Perspective: How Do The Chinese Save Money

In this article, I’ll reveal the secrets of how the Chinese save money.

Since my wife and sister-in-law are Thai and have Chinese heritage, I’ve gotten a lot of money-saving tips from them. Both are savvy with money and sister-in-law studied and works as a financial accountant.

The most fascinating fact about China is that the gross savings rate is 45.9% as of December 2021.

That means for every hundred dollars they take home, they’ll save roughly 46 dollars.

Contrast that to the United Kingdom, where we focus on consumption rather than saving.

Savings rates are typically around 8.7 percent, according to recent data.

That is a factor of 5 we’re talking about.

So, what’s the reason for this substantial disparity?

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