Subscribe To China Now

strategy

Beijing Announces Visa and FDI Incentives to Attract Foreign Talent

Beijing has announced new visa, residency, and foreign investment incentives in ...

read more
View all in strategy

finance

Understanding Legal Proceedings in China

For foreign investors running businesses in China, it is very likely that they would ...

read more
View all in finance

profile

Auckland Airport sees 92% surge in Chinese tourists

Auckland Airport sees 92% surge in Chinese tourists in February as annual figures hold ...

read more
View all in profile

commentary

Two-way trade with China more than triples over the past decade

New Zealand’s two-way trade with China increased more than three-fold in the ...

read more
View all in commentary

general

Mandarin language assistants welcomed

Forty eight Mandarin Language Assistants were officially welcomed to New Zealand ...

read more
View all in general

Understanding the Chinese Millennial Consumer

Commentary

Goldman Sachs refers to Chinese millennials as “the single most important demographic on the planet today”. Making up one-third of China’s total consumers (415 million people), this group of young Chinese are a force to be reckoned with. They are the first Chinese people in living memory to have the chance to inherit and spend their parents’ wealth. They are digital natives who are reliant on technology, and see consumption as a form of self-expression and freedom. They are prone to job-hopping or increasingly, becoming entrepreneurs; and despite having a low salary compared to their Western counterparts, their disposable income is high, they travel extensively, and they borrow to spend. They see brands as part of their unique and rebellious identity, and are starting to pay attention to locally grown businesses. They demand a seamless integration of the offline and online worlds, and have built a “sisterhood” that forms the basis of the “she-conomy”. This is a fascinating demographic of growing importance to New Zealand. This Consumer Trends report looks to outline some of the key trends impacting Chinese millennials, and the potential opportunity they present to New Zealand.

CLICK HERE TO DOWNLOAD THE FULL ARTICLE

Article & Report written by MFAT (Beijing) April 2017