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Chinanews, Beijing, February 2 – “Economical” used to be a virtue1 to the Chinese, and many of them don't want any debts at all. However, over-consumption has become a fad2 among Chinese youths today who hopes to realize their dreams much earlier than envisaged3.
Actually “debtors” in China have become the major booster to the economic growth of the cities, since banks started to offer personal consumption loans in 1998. Most of “debtors” belong to the single-child generation. They work very hard and enjoy their life. Zhang, a journalist in Tianjin, earns 4,000 yuan every month. He has purchased his apartment and car with loans. Though the debt weighs heavily upon his girlfriend and him, they believe it is worthwhile. “Pressures can drive us to work harder,”said Zhang. Today's kids contribute a lot to the domestic consumption, too. Statistics show that Chinese urban kids' pocket money is as much as 600 million yuan.
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