Declining Savings: What Influenced Household Savings Rate in China?
Based on Culture and Population Fertility Policy
- https://doi.org/10.2991/aebmr.k.220307.024How to use a DOI?
- Savings rate; Cultural attributes; Population fertility policy; China
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.
- © 2022 The Authors. Published by Atlantis Press International B.V.
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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 -