Amid a challenging economic landscape, China’s youths (aged 16-24) are grappling with a 14.9% unemployment rate as of December 2023. Feeling the impact, the younger generation has made saving a top priority and are reevaluating their spending habits. This shift has seen them transition from "wild spending" to "reverse spending", from "impulsive consumption" to "rational spending", and from "revenge spending" to "experiential consumption". Here's a glimpse into how they are navigating this change.
China youths
Society
As China’s tradition of giving red packets or hongbaos during festive occasions puts young people under pressure, they are pushing back by giving fewer hongbaos or none at all, hoping that their refusal to conform will help to bring the focus back to the sentiment behind the giving.
Society
As youths in China come into their own, they are finding their own ways to make connections. The latest trend is seeking activity buddies, or dazi culture, which offers companionship based on common interests and needs.
Society
The talent crunch in recent years prompted the local authorities in Hong Kong to launch the Top Talent Pass Scheme (TTPS) at the end of 2022. At the first anniversary of Hong Kong’s all-out talent grab, opinions remain divided as to whether the TTPS can successfully boost Hong Kong’s competitiveness and attract talent who stay for the long term.
Society
As singers, dancers and even those just chit-chatting fight to stand out in the highly saturated livestream industry to get traffic and monetary contributions from their viewers, Dongmen Pedestrian Street in Shenzhen has become the place to be. Lianhe Zaobao correspondent Daryl Lim speaks to livestreamers in Dongmen to get a feel of the industry and what it takes to survive.
Society
The poor performance of the piano industry has revealed a dying trend of learning how to play the piano in China’s middle class. No longer seen as a gateway into a higher social status, the piano has become a burden given the tough economic situation and the officials’ de-emphasis on piano talent in national examinations. Lianhe Zaobao’s China desk tells us more.
Economy
The proposal of new gaming regulations in China have sent shockwaves through the industry, with the top gaming company Tencent seeing its market value drop dramatically. Lianhe Zaobao senior correspondent Chew Boon Leong takes a look at the challenges facing the industry.
Society
Despite its end, the pandemic in China has left behind some issues, in particular the makeshift quarantine facilities that cost the government millions of RMB to build. While some have been converted to residential apartments, these temporary structures could be on the road to a pricey demolition. Lianhe Zaobao correspondent Wong Siew Fong takes a closer look at one of these quarantine-turned-housing facilities.
Society
Even as Chinese parents and the Chinese government are encouraging — and pressuring — young people to get married and have children, an increasing number of young people are more aware of themselves and what they want to get out of relationships, and are saying no to simply getting married for the sake of it.