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Chinese consumers taking on more debt
Home mortgages represent a majority of China's new household loans by value, adding to a surge in real estate prices
Residential units under construction and for sale in Daya Bay district in Huizhou in China's Guangdong province. Six large cities established new home sales restrictions in recent days to cool off prices.
PHOTO: REUTERS
Qiqihar, China
OVER the past eight years, to the world's growing alarm, China's big state-owned companies and powerful local governments have borrowed trillions of dollars to get what they want.
Now, it's Li Jing's turn.
Ms Li, a 33-year-old car saleswoman here in the middle...
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