A recent HSBC survey shows the debt-to-income ratio of China’s post-90s generation (typically born between 1990 and 1995) has reached a staggering 1,850 per cent. Photo: Shutterstock
Opinion
Opinion
Why Chinese millennials are willing to max out their cards for luxury goods
As a group that desires instant gratification, young people are willing to embrace a life of debt in order to own high-profile luxury goods – from Gucci bags to Chanel jewellery – but is this a sustainable spending model?
A recent HSBC survey shows the debt-to-income ratio of China’s post-90s generation (typically born between 1990 and 1995) has reached a staggering 1,850 per cent. Photo: Shutterstock