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Future Publishing | Future Publishing | Getty ImagesMin Li doesn't go to the mall often. The name of the game for Chinese youth in 2024 is trading down. Anything not in the basement floors is considered to be "in heaven," signaling it's out of reach. Citizens shopping for Mid-Autumn Festival gifts at a shopping mall in Yantai, East China's Shandong province, Sept 25, 2023. (Photo credit should read CFOTO/Future Publishing via Getty Images) Future Publishing | Future Publishing | Getty Images"The name of the game for Chinese youth in 2024 is trading down.
Persons: Min Li doesn't, Gucci, Chanel, Louis Vuitton, She's, Shaun Rein, Rein, Jia Miao, Jia, Chung Chi, Miao Organizations: Future Publishing, Getty, Apple, China Market Research Group, Starbucks, China Market Research, Weibo, Citizens, Publishing, New York University Shanghai, MyCOS Research, NYU Shanghai, Hong Kong Polytechnic University, McKinsey, China's, China News Service Locations: Yantai, East China's Shandong province, Weibo, East China's Shandong, Covid, NYU Shanghai China, Shanghai, Guangzhou
Such a switch from a white-collar job to "qing ti li huo" (or "light labor" in Chinese) is gaining popularity among younger people in the country. It was only in hindsight that Wang realized she never "personally wanted" to pursue her major, or be in a white-collar job. "I looked back and I realized it was because my parents told me to choose it, people told me that with this major I'd have a really, really great future," Wang said. She earned about 12,000 Chinese yuan ($1,700) a month in her white-collar job. But what may be priceless to her is the self-discovery Wang said she's been able to experience after walking away from her white-collar job.
Persons: Eunice Wang, I'd, Wang, Jia, they're, Jia Miao, Wu Xiaogang, Wu, That's, xiao bai, Miao, Eunice Wang Barista, Wu —, she's Organizations: NYU Shanghai, New York University Shanghai, CNBC, NYU Locations: China, Beijing, United States
He launched the company in 2020 and opened a brick-and-mortar store in a mall in Hong Kong in 2021. When I was being interviewed by Hypebeast in Hong Kong, I met my future cofounder and ecommerce expert Sean Wong. By July 2020, Sean had left his job, and I'd moved to Hong Kong to launch the brand. The Wristcheck store in the Landmark Atrium mall in Hong Kong. By November 2022, we'd raised $8 million, with our lead investors being Gobi Partners, who manage the Alibaba Hong Kong Entrepreneurs Investment Fund.
"Tang ping" and "bai lan" reflect the intense competition faced by young Chinese today, said Jia Miao, an assistant professor from NYU Shanghai. "Tang ping is the rejection of overworking, where you let things be and do the bare minimum," said Miao. Unemployment and uncertaintiesBoth buzzwords, tang ping and bai lan, reflect the intense competition faced by young Chinese today, said Miao. 'Tang ping' gives me breathing space to reflect on my career and future, it's not necessarily a bad thing." "I have set goals for myself when I am not working, so 'tang ping' doesn't feel like a waste."
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