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China's post-90s generation plays greater role in consumption: survey

(Xinhua)

22:02, December 07, 2011

BEIJING, Dec. 7 (Xinhua) -- A recent survey found that urban Chinese born in the 1990s are playing a significant role in consumption, as they have more disposable money and a greater say in family spending.

The pocket money for a middle school student averaged 382.3 yuan (61 U.S. dollars) per month in 2010, five times more than the 67.7 yuan per month found in the pockets of this demographic in a similar survey conducted ten years ago, according to a report from Horizon Research Group, a Beijing-based independent research firm.

Meanwhile, the post-90s youth received an average of 1,922.9 yuan during the 2010 Spring Festival, the report said.

The survey was conducted among 2,099 university and middle school students sampled from China's five largest cities -- Beijing, Shanghai, Guangzhou, Wuhan and Chengdu -- from October 2010 to June 2011.h These young people have authority regarding their own expenses. According to the survey, 84.3 percent of the surveyed said they would decide which clothes to buy.

They also have a significant say in family consumption although they still depend on their parents for money. Nearly one-third said they made decisions about major purchases, including houses and cars, with their parents.

A substantial 63.5 percent had credit cards.

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