Meet The Ma Family: How Millennials Are Changing The Way China Thinks About Money

[Ron Burgundy]

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. Interviews with Ma, a single-child, his mother and grandmother, show how rapidly attitudes toward credit are changing as the millennials generation - roughly those aged between 18 and 35 - embraces debt like never before. The frugal attitude of previous generations produced the bedrock of China's credit worthiness - household savings equal to some 50 percent of GDP, one of the highest levels globally.

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