Behind China’s Growth Numbers, a Nation Still Saving

When Li Rui was earning 30,000 yuan ($4,000) a month from part-time jobs, he burned through most of it on gadgets, takeout, and nights out. Now, as a full-time Ph.D. student in Beijing living on just 5,000 yuan in bursaries and scholarships, he saves more than ever. “I’m saving more than 60% of my income now,” says the 27-year-old. “Before, it was only about 20%, if that.”China’s economy is