Household Savings rates are as high as 50% of income in China

Household savings rates can be as high as 50% of income (by comparison in the US it’s perhaps 5% or so) and saving and or investment has in recent years been 40-50% of the entire Chinese economy. And the thing is, those low interest rates paid to Chinese savers help in making the savings rate that
high.
end partial quote from:

A Cunning Plan For China: Deregulate Chinese Finance Markets

So, because of this, China is really suffering on an individual family level because of the stock market crash. If you had 50% of your income invested in the STock market or other instruments and the market crashed like this, you might be really upset for a long time. So, the long term potential consequences of what is happening in China are unknown but possibly more understandable given this one fact about families there.