BusinessMeet The Ma Family: How Millennials Are Changing The Way China Thinks About Money
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Meet The Ma Family: How Millennials Are Changing The Way China Thinks About Money
Chinese aged between 18 and 35 embracing debt like never before
Higher spending, borrowing an opportunity for lenders, economic growth
On the other hand, it is adding to China's fast-growing debt
A user checks Ant Check, an Alibaba-linked platform, on her phone at a cafe in Beijing, April 11, 2016
Shanghai: Ma Yiqing, 24, is typical of China's younger generation - he uses his credit card frequently and borrows from online platforms to fund his shopping habits. In a pinch, he is happy to fall back on a lender closer to home - his mum and dad.
Interviews with Ma, a single-child, his mother and grandmother, show how rapidly attitudes towards credit are changing as the millennials generation - roughly those aged between 18 and 35...