Helen Wang On China’s Millennials As Consumer Superpower

I was interviewed by The Diplomat on Chinese millennials as consumer superpower. See the full interview below:
istock_000073091181_small Trans-Pacific View
author Mercy Kuo regularly engages subject-matter experts, policy practitioners, and strategic thinkers across the globe for their diverse insights into U.S. Asia policy. This conversation with Helen Wang – Silicon Valley entrepreneur and author of The Chinese Dream: The Rise of the World’s Largest Middle Class and What It Means for You – is the 92nd in “The Trans-Pacific View Insight Series.”

Explain the rise of China’s millennials as consumer superpower.

China’s millennials are a new breed of consumers who will shape the future of commerce. Numbering more than 400 million, they have indeed become a consumer superpower. Continue reading

Helen Wang On Chinese Millennials Using Social Media To Buy Properties Overseas

I was interviewed by CBC News, Canadian Broadcasting Corporation, on how Chinese millennials are using social media such as WeChat to buy real estates overseas. See the interview below.

Believe it or not, Chinese millennials have more cash to burn. As I wrote here and here, they do not have student loan debt. And most of them don’t have housing expenses. Most importantly, they are the “One-Child” generation. They grew up privileged, entitled, and wanting to enjoy life.

The Chinese social media sites such as WeChat has integrated payment system. Millennials are very savvy in using social media for all sorts of purchasing, from beauty products to real estate properties.

Apparently, they are also pooling money from family members to buy properties overseas. One reason is that they are hedging against Yuan depreciation. Another reason could be that they feel lack of security under currently system. They want to move money out of the country, and this is another way to do it.

See the original interview on CBC site here.