Chinese citizens and businesses are burdened with a heavy load of debt, according to data from China’s central bank, the National People’s Congress, and financial media outlets. Shocking statistics reveal that total personal savings in China amounts to 22.7 trillion yuan, while the combined debt of both businesses and individuals has ballooned to 33.1 trillion yuan. It’s alarming to note that around 500-600 million Chinese citizens do not have any savings at all, and the number of debtors has reached a stag
