Chinese Millennials are Super Consumers

China has about 400 million generations, five times the 80 million people born between 1982 and 1998 (20 to 36 years old). China has more millennials than the millennials of the United States and Canada.

Millennials: China's new economic force

Millennials are more educated than previous generations, 25% of them holding a bachelor's degree or higher. Two-thirds of Chinese passport holders are millennia. More than 90% of them own smartphones and more than half of the luxury goods bought in China are bought by millennia. They are changing all sectors of the economy, from travel to education. The millennial generation is the main catalyst encouraging Chinese tourists to spend $ 115 billion on international travel in 2017, while those born after 1990 have increased international travel spending by 80% in 2018. In terms of education, one-third of foreign students in the United States are Chinese. Many people have to pay the full amount.

 
However, when the world talks about China, we tend to focus on the past: old stereotypes, old policies, ancient traditions, and older generations. In China, the younger generation is maturing and has begun to lead the country’s strong economic and political future. They have influence and often define every market they enter, affecting the lives of Americans and their compatriots. Whether you want to find a job at a local manufacturing facility, let your child go to college, plan to travel around the world, or sell soft drinks, cell phones or solar panels. we started young China in the next 50 years. A generation will have an impact on your personal and professional.

After graduating from Columbia University and living in China where I lived for four years, I discovered the four characteristics of this young generation to learn about the emerging youth of this country.

 The old Chinese generation grew up behind the cultural wall

First of all, they are open. The old Chinese generation grew up behind the cultural wall. My friend Xiao Huan was born in Sichuan Province in 1990 - the same year as me. Her parents remember that in their childhood, the community had gathered in their neighbor's house because their 12-month calendar was trapped on the mud wall of their home. These 12 images - "European fields" - are the only views of the residents on the outside world. In most cases, the West has been reduced to a series of drum slogans that have been completely wiped out by the Communist Party and marched for the Cultural Revolution. "Beyond the UK, catch up with the United States!" They asked them.