Easy money? Gen Z invest online to beat coronavirus woes
1.8 million people have received at least one dose of COVID-19 vaccine: Health minister
A total of 1.2 million people have completed the full vaccination regimen, says Mr Gan Kim Yong.
China’s Gen Z splashes out on luxury, with little regard for debtChinese live-streamer Huang Hanwen uses domestic cosmetics brands and spends his time talking about animation, comics, games and short novels (ACGN), as well as domestic, Japanese and Korean celebrities and entertainment news. At weekends, he uses Make Up For Ever and drinks imported whisky mixed with Coke or Red Bull. Huang is 24, putting him in the same demographic as most of his 300,000 fans from across China – Generation Z, which is helping to drive Chinese consumer spending. This generation, born from 1995-2010, reportedly buys 15 per cent of all luxury goods sold in China, compared with a worldwide average of 10 per cent. Their expenditures also account for 13 per cent of their total household income, versus just 4 per cent in the US and Britain, according to a survey.Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. The willingness and desire of young Chinese people to spend their hard-earned income, and that of their families, is also playing an increasingly large role in driving China’s economic development, while outpacing the consumption habits of their peers in the West. We love watching TV series and videos of Chinese ‘ancientry’ style and ACGN. But we rarely talk about politics and the authorities, which are risky to discuss in public Huang Hanwen “My fans think I am handsome and look like Japanese and Korean stars,” Huang says. “Young people my age are very concerned about their appearance. I and many of my fans are willing to spend 40 per cent or more of our income on cosmetics, aesthetic medicine and clothing. “And we also enjoy spending on whisky, vodka and blind boxes of art toys. We love watching TV series and videos of Chinese ‘ancientry’ style and ACGN. But we rarely talk about politics and the authorities, which are risky to discuss in public.” Huang b
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