Recently, a survey conducted by Alipay, China's leading payment platform, surprisingly showed that 92 percent of Chinese people born in the 1990s have a surplus of money after paying for living expenses every month, while 80 percent of them use financial management for their personal wealth.
Young people today who were born in the 1990s are often viewed as spending money lavishly and recklessly. It may be time to realize that the post-1990s generation is unique, knowing how to enjoy life and rationally manage its wealth as well.
According to the survey, they have a stronger sense of independence and self-security and the poll showed that they have gotten acquainted with consumption and financial management much earlier than their parents.
With the knowledge of social media and information dissemination approaches, the post-1990s generation has achieved a diversification of income sources and satisfied their personal demands for consumption by utilizing Internet platforms.
Meanwhile, they are growing in the credit area, which means they are more accustomed to credit consumption rather than saving up to pay cash. On the one hand, they know how to maximize profits through financial management, and on the other hand, a wide variety of financial products have sprung up due to the rapid development of Internet finance.
(This is an edited excerpt of an article originally published in Guangzhou Daily on August 2）