> But average people just can not resist the lure. This is simply because there are few alternatives. The Chinese people are making more money than they need

> But average people just can not resist the lure. This is simply because there are few alternatives. The Chinese people are making more money than they need to spend, and as a lot of them do not trust the government to honor it's promises about pensions, they want to save the rest for old age. The Chinese government does not like the very positive savings rate, and tries to force it down by limiting the ways the people can save and invest money, by imposing tight capital controls and limiting domestic investment opportunities. What's left is the shadow banking system, which could collapse at any moment, domestic stocks which are terrible, real estate which has limited opportunities, and weird stuff like hoarding gold.