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Savings culture is fading—China saw growth of savings hit slowest in 40 years

China's total savings in financial institutions increased by 8.3 per cent year in August from a year earlier, the slowest growth in 40 years, according to data released by the People's Bank of China (PBOC). You should know the growth never fell below 9 per cent in the past 39 years, after hitting a low of  6.9 per cent seen in December 1978.

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