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Credit Suisse had some hard data to put the number at 30%. I can't find the actual study, but here's an article on it -- http://www.bloomberg.com/news/articles/2010-08-12/china-s-we...

However, as Rein points out, Credit Suisse and almost all other studies of the Chinese Underground Economy, are only capturing data about Urban hidden capital. It is a commonly understood fact in China, if not quantifiable, that most rural families keep their money in cash, and are very quiet about the quantity of said money.



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