Revenge saving has become a trend on Chinese social media websites, with Chinese youth setting extreme monthly savings targets.
"Chinese youth have a revenge savings mentality," said China Market Research Group's Managing Director Shaun Rein."Unlike youths in the 2010s who often spent more than they earned and borrowed money to buy fancy items like Gucci handbags and Apple iPhone, young Chinese have started saving more," he told CNBC.stingy economy
This is in stark contrast to a wider trend among the youth, particularly Gen Zers — those born between 1997 and 2012 — who are reportedlyFeeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly"Young people probably sense the same thing that everyone else does: the economy just isn't doing that well," said Christopher Beddor, deputy director for China research at Gavekal Dragonomics.