-China’s social media influencers share tips on frugal living as willingness to spend drops, with almost 60 per cent of people saying they want to save money
-Beijing’s zero-Covid policy has taken a heavy toll on consumption, while its crackdown on tech companies hits younger workers
China’ social media influencers have made frugality trendy by starting a low-cost living challenge in Shanghai, one of the country’s most expensive cities. Photo: Reuters
Before the pandemic, Doris Fu imagined a different future for herself and her family: new car, bigger flat, fine dining on weekends and holidays on tropical islands.
Instead, the 39-year-old Shanghai marketing consultant is one of many Chinese in their 20s and 30s cutting spending and saving cash where they can, rattled by China’s coronavirus lockdowns, high youth unemployment and a faltering property market.
“I no longer have manicures, I don’t get my hair done any more. I have gone to China-made for all my cosmetics,” Fu said.
www.scmp.com
-Beijing’s zero-Covid policy has taken a heavy toll on consumption, while its crackdown on tech companies hits younger workers
China’ social media influencers have made frugality trendy by starting a low-cost living challenge in Shanghai, one of the country’s most expensive cities. Photo: Reuters
Before the pandemic, Doris Fu imagined a different future for herself and her family: new car, bigger flat, fine dining on weekends and holidays on tropical islands.
Instead, the 39-year-old Shanghai marketing consultant is one of many Chinese in their 20s and 30s cutting spending and saving cash where they can, rattled by China’s coronavirus lockdowns, high youth unemployment and a faltering property market.
“I no longer have manicures, I don’t get my hair done any more. I have gone to China-made for all my cosmetics,” Fu said.
‘Everything is unknown’: young Chinese cut spending as economy falters
China’s social media influencers share tips on frugal living as zero-Covid policy and tech crackdowns take toll on consumption and youth employment.
www.scmp.com