Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)

Declining Savings: What Influenced Household Savings Rate in China?

Based on Culture and Population Fertility Policy

Authors
Zihan Gao*
School of Foreign Language, Xihua University, Cheng Du, Sichuan Province, China
Corresponding Author
Zihan Gao
Available Online 26 March 2022.
DOI
https://doi.org/10.2991/aebmr.k.220307.024How to use a DOI?
Keywords
Savings rate; Cultural attributes; Population fertility policy; China
Abstract

China has historically been the country with the highest saving. Chinese household savings rate not only concerns every family’s life in China but also influences the capital investment and development of the national economy. It is critical to know the trend of household savings rate and factors that control and direct China’s household savings. From reviewing previous articles about Chinese household savings under population fertility policy, this study gets the basic conclusion about the influence of population policy on Chinese household savings rate. From researching on Chinese traditional collective culture and changes of population policies from one-child policy to the second-child policy, this study concludes that high household savings rate is caused by Chinese collectivism under one-child policy and the trend of decreasing savings rate is influenced by the culture from young generations and the second-child policy. After discussing, the study gets the prediction that Chinese savings rate will continue to be high but have a trend of decreasing slightly.

Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

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Volume Title
Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
26 March 2022
ISBN
978-94-6239-554-1
ISSN
2352-5428
DOI
https://doi.org/10.2991/aebmr.k.220307.024How to use a DOI?
Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Zihan Gao
PY  - 2022
DA  - 2022/03/26
TI  - Declining Savings: What Influenced Household Savings Rate in China?
BT  - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
PB  - Atlantis Press
SP  - 156
EP  - 163
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220307.024
DO  - https://doi.org/10.2991/aebmr.k.220307.024
ID  - Gao2022
ER  -