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China’s $16 Trillion Cash Hoard Shows Deepening Household Gloom

Clawde Yin, here with his dog at his home in Shanghai, is concerned about what snap government policy changes would do to his savings in real estate or stocks.

Clawde Yin, here with his dog at his home in Shanghai, is concerned about what snap government policy changes would do to his savings in real estate or stocks.

Courtesy: Clawde Yin

For decades, the surest way for ordinary Chinese families to grow their wealth and guarantee future financial stability was to put most of their money into real estate, and the rest into the stock market.

Now, even those with money to spare are clutching onto their cash, not willing to take a chance in the Covid-battered Chinese economy.