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According to a trend on social networks, it turns out that more than 60% of Chinese students think that their annual income will reach one million yuan within 10 years after graduation. This ambition among Generation Z has sparked the interest of some experts, who reveal some surprising figures.
On Weibo, a very popular Chinese social network, the hashtag evoking the large number of Chinese students who see themselves as millionaires in a few years, reached 530 million hits. A trend confirmed by the study of China Youth Daily, which revealed that 70% of the students born after 2000 will give priority to their professional career rather than their personal relationships. 68% of them believe that their salary will be more than 1 million yuan ($155,000) per year within 10 years after graduation.
On social networks, it is quite a debate. Some people welcome the fact that the young generation is so ambitious, while others see it as naivety.
Surprisingly, only one out of five young people interviewed wants to pursue a career in a big city like Beijing, Shanghai or Guangzhou. Their choice is more about smaller, more accessible cities or simply their hometown.
Good news for the luxury industry?
The luxury market in China grew by 48% in 2020. The number of millionaires in China has increased and there is a rise in the middle class. As a result, the Chinese consumer is expected to account for 50% of the global luxury business by 2025.
This desire for the younger generation to be millionaires is a strong signal for luxury brands. Unlike their parents, Gen Zers are embracing a lifestyle of instant gratification. Instead of saving money, they seek instant gratification. This remains a good indicator for luxury houses that are expanding or opening their market to China. The focus will no longer be on megacities, but also on secondary cities, which will see their clientele grow as the purchasing power of the younger generation grows.
read also > CHINA’S WEALTH REDISTRIBUTION PLAN PUSHES DOWN LUXURY
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According to a trend on social networks, it turns out that more than 60% of Chinese students think that their annual income will reach one million yuan within 10 years after graduation. This ambition among Generation Z has sparked the interest of some experts, who reveal some surprising figures.
On Weibo, a very popular Chinese social network, the hashtag evoking the large number of Chinese students who see themselves as millionaires in a few years, reached 530 million hits. A trend confirmed by the study of China Youth Daily, which revealed that 70% of the students born after 2000 will give priority to their professional career rather than their personal relationships. 68% of them believe that their salary will be more than 1 million yuan ($155,000) per year within 10 years after graduation.
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According to a trend on social networks, it turns out that more than 60% of Chinese students think that their annual income will reach one million yuan within 10 years after graduation. This ambition among Generation Z has sparked the interest of some experts, who reveal some surprising figures.
On Weibo, a very popular Chinese social network, the hashtag evoking the large number of Chinese students who see themselves as millionaires in a few years, reached 530 million hits. A trend confirmed by the study of China Youth Daily, which revealed that 70% of the students born after 2000 will give priority to their professional career rather than their personal relationships. 68% of them believe that their salary will be more than 1 million yuan ($155,000) per year within 10 years after graduation.
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