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��Home>>China Observer
Will children in the 1980s bring consuming boom?
www.chinanews.cn 2006-01-11 16:08:29
China now has 90 million children which are the only child in their
families.
Chinanews, Jan 10 �C Children born in the 1980s are growing up. As the
first generation under China��s family control policy, they become
adults, joining the labor force and becoming consumers. Some people
predict that as these children grow up, China will enter into a new round
of consumption boom.
These children, especially those in cities, gather all love from their
parents and grand parents, since they are the only child in their
families. Therefore, they have a large consumption power, as parents,
grand parents (both from mother��s side and father��s side) would like to
give them pocket money without hesitation. However, the question remains
as, would products made by Chinese companies suit their taste? Will
Chinese enterprises make profit from them?
As the old saying goes, normal people regard food as their most important
thing. For these children, food also comes first. While they eat
traditional foods like buns and rice, their interest in western food is
more than any of their predecessors, although some of the western foods
are regarded as junk food.
For clothing, people born in the 1980s prefer those that show
individuality or those with a brand name. They will not hesitate to pay
for a pair that cost over 1,000 yuan and fashion devices like laptop
computers, mobile phones, and MP3 become their daily necessitates.
However, among these modern technologies, how many are made by Microsoft
and how many come from domestic manufacturers?
With a good money supply, these children enjoy lots of educational
opportunities. They go to school to play music, learn paintings or
calligraphy, and receive training in football or basketball. Culture
consumption plays an increasingly bigger role in their lives. However,
will they go to see western movies or will they pick up a Hong Kong film
for entertainment?
Housing and automobiles are considered the most effective driving force
to boost consumption and these children will soon become major consumers
in these two sectors. Of course real estate is mainly domestic products
and most Chinese still cannot afford whole, imported vehicle. Yet among
those domestic made cars, how many of them are really made by Chinese
manufactures? In a word, China��s manufacturing capability can no doubt
meet the consuming demands of the people in 1980s. Yet not many of them
are native products.
If domestic products can not suit their taste, their parents should take
money out of their pockets to pay for those imported, foreign
refrigerators or shirts, or other goods, to meet their demand. Even some
products they use might be marked with a ��made in China�� tag, how many
of them are really made by domestic manufacturers (housing is an
exception).
People born in the 1980s will not live the same life as their parents and
they are also different from their predecessors, in the way they think,
act and consume. They will leave their own trace in the historic
development of the Chinese society. How can China make adjustment to
adapt to the changing habits of the new generation? The way China answer
the question will affect the country��s social, economic development in
future.
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