CHINESE people save around nine times more than Britons, as a proportion of income, according to figures released yesterday.
Since 2001 the savings ratio in China spiked from 27 per cent to a staggering 47 per cent, according to research from Lloyds TSB.
In the UK the recession saw the savings ratio rise to seven per cent, where it is expected to remain in the near future, the report said.
And 11 per cent of British adults have no savings whatsoever, compared to just three per cent of non-savers in China.
“The typical (median) UK household has an average of £5,009 in savings and investments – this is around £3,600 lower than the typical German household,” Lloyds TSB found.
“The typical UK household has only around a quarter of the amount in savings and investments owned by the typical Chinese household – £19,334,” it said.
