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crazy! 90% chinese youths bear debt!

unlike the previous generations, chinese young people get used to spending with borrowed money. while debt fears and concerns follow, a report shows that the youth may be more rational than you think. 

crazy! 90% chinese youths bear debt!

years of manufacturing efforts are producing more goods available for consumption. under these conditions, it’s easy to understand why chinese youth don’t need to worry that the things they want to buy won’t be available. 

on the contrary, what they do worry about is that they don’t have enough money to buy most of the things they want

what’s more, as the increasingly popular and advanced online credit services in a cashless chinese society, consumers are encouraged to “buy first and pay later”

crazy! 90% chinese youths bear debt!

nielsen released the report of china’s young consumers’ debt status on nov 13, just two days after the singles day spending spree. 

through the online survey, nielsen investigated 3,036 chinese young consumers in september and october. the penetration rate of credit products for the youth has reached 86.6%

 

even though the rate is high, half of the respondents use the products as a tool of payments

crazy! 90% chinese youths bear debt!

nearly half of the people in debt can pay off over the month. 

the average debt-to-income ratio of china’s young adults is 41.75%, while the monthly real debt repayment-income ratio stands at 12.52%

according to the research, most of the young people are not drown in the credit payments, instead, they have a cautious attitude about it. 

some young people think this mode of consumption offers financial backup since their monthly salary cannot afford too many things they want to buy after paying for daily expenditures when they just begin their job. 

crazy! 90% chinese youths bear debt!

paying through credit products help them still keep some of their salary for everyday use, even invest the rest in financial products to have a good deposit. 

of course, it’s true that not all young people are so rational in their consumption. some people may have to ask their parents or friends to help pay off their debts since they often spend so much. 

crazy! 90% chinese youths bear debt!

what do you think about credit payments? please leave a comment below and share your thought! 

foreigners with trading companies in china get caught because…

chinese police and uae police have recently taken down an international luxury fake gang producing and selling fake luxury products. 37 suspects in china and 20 in dubai were caught in the action. 

according to the police, there are over 28,000 fake products involved in the case, with a total value of nearly 1.8 billion yuan ($260 million)

 

foreigners with trading companies in china get caught because...

 

the gang headed by a group of suspects based in dubai, produced fake garments, bags, shoes and watches of luxury brands such as lv, hermès and chanel. 

 

foreigners with trading companies in china get caught because...

the main suspects, based in dubai, established two trading companies in southern china, and hired workers to make the products on orders from overseas. 

 

foreigners with trading companies in china get caught because...
company’s name on the declaration form was fake too. 

 

the products were reportedly purchased and produced in a factory in guangzhou, and then were transported to dubai through a logistics company with false declarations.

foreigners with trading companies in china get caught because...
foreigners with trading companies in china get caught because...
one of the workers showed how to make the fake bag. 

 

shanghai police said there were over 200 distributors in the middle east to sell the fake products as authentic on discount.

 

they also produced and sold counterfeits of limited edition bags at the price of around 40,000 yuan ($5,700), for a tenth of the authentic one’s.

 

foreigners with trading companies in china get caught because...
a suspect’s display counter in dubai

 

du yan, deputy director of china’s food-and drug-related crime investigation bureau, said it is a typical case of international ipr infringement crime with a complete crime chain and such a huge amount of money involved. 

 

foreigners with trading companies in china get caught because...
du yan, deputy director of the food-and drug-related crime investigation bureau. 

 

du also said that china will continue to coordinate with other authorities and interpol to tackle international intellectual property rights crimes. 

 

foreigners with trading companies in china get caught because...
dubai police and shanghai police. 

 

china’s ministry of public security established the bureau early this year, to help stem the tide of fake and dangerous products. 

 

within the three months from july 25, a total of 6,197 suspects have been caught in 2,668 ipr cases in the action named “kunlun”, with 6.98 billion yuan ($1 billion) involved. 

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foreigners with trading companies in china get caught because...

source | cctv / bjnes/ thepaper

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easier to open a company in china! license & permit seperated

china has decided to further improve its business environment by promoting the separation of permits from business licenses in pilot free trade zones (ftz). 

as we all know, operation permits and business licenses are two keys to set up a company in china. 

 

though it’s not difficult to get the licenses in these days, application for an operation permit could be time-consuming

 

easier to open a company in china! license & permit seperated

 

the state council released a notice recently to fully decouple business licenses from operation permits in the pilot free trade zones nationwide, in a bid to help enterprises start a business with high efficiency

 

companies are allowed to operate as soon as they get the business license. 

 

easier to open a company in china! license & permit seperated

operation permits will cover all government approval items relating to business operations with a list-based administrative mode introduced. 

 

easier to open a company in china! license & permit seperated

the new measures will be on trial in ftzs in several provincial regions including shanghai, guangdong, tianjin, fujian, liaoning, zhejiang, etc. 

 

reform will be carried out in multiple ways, such as canceling, approval converging into record-filling management, pre-commitment of compliance, and optimizing approval services. 

 

easier to open a company in china! license & permit seperated

 

besides, china will further cut the red tape concerning 523 items related to business operation permits set by the central government. 

 

relevant items include scrapping the review requirement of 13 items and replacing the approval requirement of 8 items with registration. 

 

a list will be established to outline laws, regulations and items related with business operation, which will be released to the public and adjusted in due course. 

 

easier to open a company in china! license & permit seperated

if you want to know more about the policy, please check the following website: 

http://english.www.gov.cn/policies/latestreleases/201911/15/content_ws5dce6b0cc6d0bcf8c4c1726d.html

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easier to open a company in china! license & permit seperated

source | china gov / 人民网

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young generation prefer girlfriend rental in china!?

what will you do if you’re single but want a companion even for a while? for some chinese youths, they may rent a boyfriend or girlfriend. 

china is no stranger to the boyfriend and girlfriend rental business.

sharing economy has long been touted. it is so popular that something like shared bike and shared portable charger can be seen everywhere. 

 

young generation prefer girlfriend rental in china!?
sharing bikes

 

then someday, apps and websites for shared boyfriends and shared girlfriends blew up. 

users can hire someone to pose as a boyfriend or girlfriend – mostly girlfriend – for acitivies such as shopping, chatting, eating meals, and watching movies. 

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young generation prefer girlfriend rental in china!?

 

in recent years, many chinese men are using these apps to rent a girlfriend to avoid pressure from their families or show off to their relatives.

 

the country’s sex ration imbalance makes it difficult to have a relationship or get married for men in china or some other asian countries.

 

besides these, the young generation begins to accept an individual’s time as a commodity.

 

young generation prefer girlfriend rental in china!?
such rental business is also booming in japan. 

for those who offer the services, it’s just a part time job. they can make money while helping out single persons who live and work alone in big cities. 

young generation prefer girlfriend rental in china!?
a youtube video shows that a rental girlfriend went into this job because she want more income. 

however, there has been criticism among netizens about the morality of this type of business. 

 

young generation prefer girlfriend rental in china!?

as specific regulations have not yet been established in china, it seems that such rental business totally rely on the both sides.

 

users or rental perosons could probably bear high risks if others have bad intention. 

related article: 

young generation prefer girlfriend rental in china!?
a girl almost got raped when she was hired to be a fake girlfriend. 

any apps that connect people have the potential to facilitate illicit activities. 

if you search relevant terms on the internet, you might be able to get access to pornography and possibly prostitutes, both of which are very illegal in china. 

 

young generation prefer girlfriend rental in china!?

anyway, there are still many people wanting to rent a boyfriend or girlfriend to assuage their feeling of loneliness, or work on the rental business to earn more. 

 

young generation prefer girlfriend rental in china!?

what do you think of the rental business? please leave your comment below! 

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young generation prefer girlfriend rental in china!?

source | scmp / reuters

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