EconomyNo more ‘buy, buy, buy’: Why Chinese consumers are saving instead

China is known for producing globally popular goods, yet domestic spending is falling well short of the government’s hopes. A weak property market, persistently high youth unemployment and fragile consumer confidence are encouraging many households to save rather than spend. That preference is making it harder for China to move away from an economic model reliant on exports. Beijing has introduced measures including consumer subsidies and a five-year plan to expand consumption, but the response has not produced the results expected. The broader question is whether weak consumption is temporary or reflects deeper structural problems.