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Forget it, As a Chinese I can tell you the real source: It's a practice in China to save company money in a private account.
by est 17y ago
Forget it, As a Chinese I can tell you the real source: It's a practice in China to save company money in a private account.
- cwan 17y agoAlso being in China a great deal, I would anecdotally say that the posting seems fairly accurate though I would add that a lot of funds saved by those in the city or at factories are sent home and spent there. There has also been a massive amount of consumption in the form of fixed assets that a lot Chinese would call "investments" like real estate where pricing seems unsustainable. It really isn't the households that have the money to spend (particularly given that they also experience shocks like healthcare expenses from time to time), but the SOE's and large industrial firms (at least in my experience).
- mcd 17y agoSorry for being naive. How would saving company money in a private account increase savings?
- drinian 17y agoYou're implying that the money is placed there as embezzled/a tax dodge/both?