The Economist.
Open up the balance sheet of a typical Chinese household,
and you will see plenty to worry about on both sides of the ledger.
Household debt, including mortgages and consumer credit, is much higher than it was a decade ago.
And if you look at the assets people typically hold,
you'll find a heavy concentration in property and bank deposits,
with little exposure to stocks or bonds.
Households cling to a preference for the familiar, cash on the bank or bricks and mortar.
For years, this strategy worked.
But today, it's showing signs of strain amid a faltering property market, stagnant wages, and growing debt distress.
Over the next two episodes of Drum Tower, we're meeting families, young professionals,
and business owners to hear their money troubles and to find out how they're navigating their financial futures.
In our first episode, we'll explore how people save and accumulate wealth.
PROPERTY was once the cornerstone of China's boom and was seen as the safest place to park savings.
But the dream of security through home ownership is beginning to crack.
I am Jia Haochen, the economist, China researcher and drum tower producer.
This week, I'm joined by Simon Cox, our China economics editor,
and we're asking, how did property become the foundation of Chinese household wealth?
And if property isn't safe anymore...
Where can Chinese families turn?