By South China Morning Post | Created at 2024-09-29 02:14:01 | Updated at 2024-09-30 05:28:15
1 day ago
“Since I live with my parents, I don’t need to pay rent. Now that I’m single, I have no plans to get married or buy a flat,” said 30-year-old Terry Huang.
The sentiment from the operations manager at an advertising company in Guangzhou in southern China’s Guangdong province points directly to the ongoing waning levels of consumption in China, particularly in a property market that has continued to drag down the world’s second-largest economy.
Huang and his 32-year-old colleague, though, have spent about 1,000 yuan (US$142) between them on attending three concerts this year.
They have also travelled to the Yangtze River Delta and to the nearby southern province of Guizhou, spending another 4,000 yuan each.
“The money I earn is just enough for my expenses, and I haven’t saved much over the past two years,” added Huang.
