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
Jing Daily
Opinion

Opinion

Jing Daily

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?

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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
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