Owning a credit card can seem like a rite of passage in the United States, where even a college student with no income can sign up and start swiping. More than two-thirds of Americans over the age of 15 carry plastic.
In China, however, just 21 per cent do. That's not because they don't want to shop. In a recent survey of 3,100 Internet users, UBS Group found that 44 per cent plan to consume more, spending on items such as smartphones and air-conditioners, while only one-third intend to scale back.