Post-pandemic revenge spending is still continuing, but in one part of the world there's something starkly opposite happening — revenge saving. Rather than splurging on impulsive purchases, China's young are saving ferociously as the world's second-largest economy remains in the doldrums. Revenge saving has become a trend on Chinese social media websites, with Chinese youth setting extreme monthly saving targets. "Chinese youth have a revenge savings mentality," said China Market Research Group's Managing Director Shaun Rein. "Unlike youths in the 2010s who often spent more than they earned and borrowed money to buy fancy items like Gucci handbags and Apple iPhone, young Chinese have started saving more," he told CNBC.

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Persons: Zhai Zhai, Shaun Rein, Gucci Organizations: Research, CNBC Locations: China