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2012/11/27

Household Debts

1.       Debts Structure

In the CHFS project, household debts include debts incurred through the household’s agricultural, industrial or commercial undertakings, real estate mortgages, car loans, education loans, credit card debts, and other debts. Table 1 shows that the average total debts of the households in the sample are 62,576 yuan. The figure is 100,816 yuan for the urban households and 36,504 for the rural ones.

Table1  Household Debt Structure (Unit: Yuan)

Business

Housing

Cars

Education

Credit

Others

Total

Rural

16,950

15,344

1,702

717

57

1,733

36,504

Urban

41,889

51,377

2,665

1,262

351

3,271

100,816

Total

27,060

29,952

2,092

938

176

2,357

62,576

2.       Business Debts

Business debts refer to debts incurred through household agricultural, industrial or commercial undertakings in the form of bank loans or loans from informal financial channels. In total, there are 1,157 households that borrowed for agricultural or business undertakings. The average amount of the debt is 202,000 yuan with a medium of 4,500 yuan.

Table 2  Household Business Debts (Unit: Yuan)

Observations

Mean

Median

Bank Loans

298

669,803

30,000

Private Loans

995

38,277

2,800

Business Debts

1,157

202,067

4,500

3.       Housing Debts

Housing debts include real estate mortgage from banks and money borrowed through other informal financial channels. Table 3 shows that in total, 2,264 households borrowed to purchase housing with a mean of 122,700 yuan and a medium of 40,000 yuan.

Table3  Household Housing debts (Unit: Yuan)

Observations

Mean

Median

Bank Loans

846

228,513

60,000

Private Loans

1,667

53,669

34,000

Housing Debts

2,264

122,700

40,000

4.       Car Debts

Car debts include car loans from banks and money borrowed through other informal financial channels with the purpose of financing an antomobile purchase.

Table 4  Household Car Debts

Observations

Mean

Median

Bank loans

113

118,516

60,000

Private Loans

271

64,244

20,000

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