QA：年轻的中国人是否仍然坚持着长辈的信念：即债务是坏的，应该避免，而储蓄是好的和重要的？

xiao Yang
My parents’ home in a Hebei village
I don’t know whether other young people accept the idea, but for me, a post-80s born in a Chinese village, I am deeply influenced by the idea that saving money is important and I can’t accept the state of being in debt.

我父母在河北一个村庄的老家：



我不知道其他年轻人是否接受这个想法，但对我来说，作为一个出生在中国农村的80后，我深受存钱很重要的观念的影响，我不能接受负债的状态。

I studied hard since in an elementary school in a village. My family was not well-off, but I was determined to pass the exam to continue my junior and senior middle school study in a city. I did it and was recruited by the best senior middle school in a Hebei city in 1998. But it required 3000 yuan tuition for the three years study. It was a heavy burden on my family.

我从一所乡村小学开始努力学习。我的家庭并不富裕，但我决心通过考试，继续在一个城市读初中和高中。我做到了，并于1998年被河北省一所最好的高中录取。但三年的学习需要3000元的学费。这对我的家庭来说是一个沉重的负担。

Thanks to my parents. They are farmers and toil on the fields from dawn to dusk, they want me to get rid of the hard farm working and start a new life. My mum rode a bicycle, I sitting on the back, to borrow the tuition from my grandparents. I always think I am good enough and never disappoint my parents. I was recruited by a college in Beijing during China’s national college exams.

感谢我的父母。他们是农民，从早到晚在田里辛勤劳作，他们希望我摆脱繁重的农业劳动，开始新的生活。我妈妈骑着自行车，我坐在后面，向祖父母借学费。我一直认为我足够好，从不让父母失望。在中国高考期间，我被北京的一所大学录取了。

I am deeply influenced by the growing-up environment and started saving money since my college study. At that time, I did three part-time jobs to teach middle school students. In 2015, I bought my own house in Beijing. I paid the down payment all by myself, with loans from the bank, without borrowing money from others. Saving money is important.

我深受成长环境的影响，从大学毕业就开始存钱。当时，我做了三份兼职工作，主要是教中学生。2015年，我在北京买了自己的房子。我自己付了首付款，从银行贷款，没有向别人借钱。省钱很重要。

Richard Teo
A good trait for anyone in the world - not only in China.
And there are good debt and bad debt. Borrowing to buy assets (especially own house for staying/living) is GOOD.
Borrowing to buy “wants (branded cloths and such like ” is bad! Borrowing to buy second home for speculation is BAD!

这对世界上任何人来说都是一个很好的品质，不仅是在中国。
有好债务和坏债务。借钱购买资产（尤其是自己住的房子）是好的。
借钱买“想要的（品牌服饰、类似的东西）”是不好的！
借钱买第二套房子投机是不好！

Khan Norfolk
100% agreed with.

100%同意。

Joseph Lee
Sister xiao Yang, I am sure your family are very proud of you and so do I. You are an excellent example for all younger and older Chinese people to follow.

xiao Yang 姐姐，我相信你的家人都为你感到骄傲，我也是。你是所有中国年轻人和老年人应该效仿的好榜样。

xiao Yang
Thanks for your praise.

谢谢你的赞美。

Karl Yap
Congratulations! I understand and I agree.

恭喜！我理解并同意。

Peter Yip
Saving money is always good even when it is enforced by law like what we do in Singapore. 20% from employee and 17% from employer are paid to our own Central Provident Fund account from our monthly salaries. The funds are not pooled and follow us when we change employers. Subject to some limits, we are allowed to utilise these fund to buy subsidised homes, pay subsidised medical bills and invest in approved investment schemes. Upon retirement, only cash balances from the Special and Ordinary accounts are transferred to the Retirement Account and we get monthly payments till we pass on. Medisave balances remain to pay for our medical needs. Balances for all accounts will be combined after death and that will be distributed to the spouse and offsprings.

省钱总是好的，我们在新加坡法律会强制执行省钱计划。员工20%和雇主17%，从我们的月薪中支付到我们自己的中央公积金账户。当我们更换雇主时，这些资金不会汇集在一起并返还给我们。在某些限制下，我们可以利用这些资金购买补贴住房，支付补贴医疗费用，并投资于批准的投资计划。 退休后，只有特殊和普通账户的现金余额才会转入退休账户，我们每月都会收到付款，直到我们去世。医疗储蓄余额仍用于支付我们的医疗需求。所有账户的余额将在死亡后合并，并分配给配偶和后代。

Wei Wan

学霸

Anthony Yeung
I salute your achievements and the selfless support you got from your family. It makes the world a better place.

我向你的成就和你从家人那里得到的无私支持致敬。它使世界变得更美好。

K P Lee
Well done and you made your parents proud

做得好，你让你父母感到骄傲

Myron Sanderson
Works for me too!

我也这样！

Charlie Lee
I was 5 when my father passed away. My mother does not have an education but she has a good mind. She wants to make sure and determine that I have an education. I struggle getting help from our relatives . I finally work through my college and graduated chemical engineering. I was lucky to received a scholarship and to my grad school in Cleveland, Ohio . I graduated , get experienced and open my design and engineering company with 10 process engineer building biotech plant . I was blessed to designed and engineered a biotech facility that produced clinical meterial to successfully treat non Hodgkin’s lymphoma.. I also save money bought two houses and gave each one to my sons , I consider myself blessed now that I am retired . Success is to focus And your aim will become true

我父亲去世时，我5岁。我妈妈没有受过教育，但她头脑很好。她想要确保和确定我可以接受教育。我很艰难的从亲戚那里得到了帮助。我终于完成了大学学业，毕业于化学工程专业。我很幸运地获得了奖学金，并进入了俄亥俄州克利夫兰的研究生院。我毕业了，积累了经验，开了一家设计和工程公司，有10名工艺工程师的建造生物技术的工厂。我很幸运能够设计一个生物技术设施，生产临床材料，成功治疗非霍奇金淋巴瘤。我还存钱买了两套房子，每一套都给了我的儿子们，现在我退休了，我觉得自己很幸运。成功就是专注，这样你的目标就会实现。

Oileng Lai
Excellent MENTALITY.. Remember to APPRECIATE your parents and grandparents. Now technology can do the hard farming and reap greater and better harvest.. LET'S PROGRESS WITH LOVE AND SERENITY

优秀的思维方式。记得要感激你的父母和祖父母。现在，技术可以取代过去艰苦的耕种模式，收成也更好了。让我们在爱与宁静中前进。

Liu Asum
You recalled me the memory in Tangshan first Senior middle school. It's location in south west corner of Tangshan. I graduated in 1997.

你让我想起了唐山第一高级中学的记忆。它位于唐山市西南角。我于1997年毕业。

Eric Yap
Very happy and proud of you. Do remember that money doesn't mean everything too.
Be happy and stay healthy.

我为你感到高兴和骄傲。请记住，金钱并不意味着一切。
保持快乐和健康。

Jinghui Chen
The opposite is true:
Nowadays more and more young people in China are borrowing as much as they can, then using some legal loopholes to hide their assets and to prevent default penalty in a very ingenious way.

事实恰恰相反：
如今，越来越多的中国年轻人尽可能多地借贷，然后利用一些法律漏洞隐藏他们的资产，并以一种非常巧妙的方式防止违约处罚。

Mario Cassini
Honourable story thanks for sharing!

值得钦佩的故事，感谢分享！
Nari Kei(秋霞)

There was a time when Ant Financial Services attempted to replace the banks, attempted to go public in violation of regulations, and recommended small loans to young people. At that time, there were also many other private loans, and many young people at that time preferred to overdraw their income. Later, illegal high interest loans were cracked down on, and the illegal operations of Ant Financial Services were also corrected. Small loans have become low-key after that.

曾经有一段时间，蚂蚁金服试图取代银行，试图违反规定上市，并向年轻人推荐小额贷款。当时，还有许多其他私人贷款，当时的许多年轻人更喜欢透支收入。随后，国家打击了非法高利贷，蚂蚁金服的非法经营也得到了纠正。在那之后，小额贷款变得低调。

The biggest loans people faced before were house loans, then car loans - we don't really need to save money for higher education. In the past few years, property purchases were relatively cautious, and there was also a decrease in speculation. Due to the expenses during the epidemic, many people tried to save money in the previous period. Nowadays, people's entertainment activities are recovering, and savings behavior may also be relatively reduced a little.
In regular consumption, some people use installment payments, which are more common among young people than among the elderly, but most people do not overdraw. Without capital to lure young people like credit card companies in the US, so everyone's situation is still good now.
The quality of a nation is not easily changed, and China's diligence and frugality are inherited.

人们以前面临的最大贷款是住房贷款，然后是汽车贷款——我们真的不需要为高等教育存钱。过去几年，购房相对谨慎，投机也有所减少。由于疫情期间的开支，许多人在前一时期试图省钱。如今，人们的娱乐活动正在复苏，储蓄行为也可能相对减少一点。
在常规消费中，一些人使用分期付款，这在年轻人中比在老年人中更常见，但大多数人不会透支。没有像在美国那样的信用卡公司来吸引年轻人，所以现在每个人的处境都很好。
一个民族的素质是不易改变的，中国的勤俭节约是被继承下来的。

Robert Quek
I don’t really know. I am not aware of any study or survey to try to get a picture of it.
My observation is the young people are more adept to debt than their elders. They have a better life experience, more ambitious, and more confident about the future, their prospects and that of the country. This is particularly true of the young middle-class Chinese in the tier-1 cities.

我真的不知道。据我所知，没有任何研究或调查试图了解它。
我的观察是，年轻人比他们的长辈更善于负债。他们有更好的生活经历，更有野心，对未来、自己和国家的前景更有信心。一线城市的年轻中产阶级尤其如此。

One area that attracted much attention prior to the present doldrums in the residential market was strong speculative buying of homes in Shanghai. Many young people were reported to have gone on high leverage to buy several homes, seeing it as the way to get rich quickly.
It may be that this has troubled x and the government to frx the policy to moderate the debt level and financial leverages in the country. He must have known of the speculative activities on homes when he said that homes are to live in, not for speculation. This is still the policy.

在目前住宅市场低迷之前，一个引起广泛关注的领域是上海强烈的投机性购房。据报道，许多年轻人利用高杠杆购买了几套房子，认为这是快速致富的途径。
这可能困扰着政府，他们制定政策，以缓和该国的债务水平和金融杠杆。国家说房子是用来住的，不是用来投机的，上层一定知道房子上的投机活动。这仍然是政策。

Indeed, the 3 red lines regulation had its focus on speculations, against the land speculations by property developers, as well as, against the speculations on homes by individuals, such as the situation in Shanghai.

事实上，三条红线规定的重点是投机，反对房地产开发商的土地投机，也反对个人对房屋的投机，比如上海的情况。

The government sees too much debt creates the wrong incentives. But this is a new age. The young may not see that debt and savings are mutually exclusive. They are not against savings per se. They also want to make investments, which often means to also go into debt. What is the balance? The government has a delicate task to try to influence the attitude of the younger Chinese people.

政府认为过多的债务会产生错误的激励措施。但这是一个新时代。年轻人可能看不到债务和储蓄是相互排斥的。他们本身并不反对储蓄。他们还想进行投资，这通常意味着也要负债。平衡是什么？政府有一项微妙的任务，试图影响中国年轻人的态度。

Aozao Zhou
I think the young people of China have gone through a story of opposing their fathers and then copying their fathers.
Young people born between 1980-1995, who graduated from university at a time when China's economy was growing by leaps and bounds, saw their incomes grow very fast and house prices rise very quickly, so people in this period liked to take out large loans to buy property.

我认为中国的年轻人经历了一个反对父亲然后模仿父亲的故事。
1980年至1995年间出生的年轻人，在中国经济突飞猛进的时候从大学毕业，他们的收入增长很快，房价上涨很快，所以这一时期的人喜欢借大额贷款买房。

Young people born after 1995 are not quite the same, when they graduated from college, the housing prices in China's big cities were already very scary, so many of these young people became the "flat generation", they refused to work overtime, refused to buy a house, refused to get married, and refused to have children. They refuse to work overtime, buy a house, get married, or have children. Of course, they don't have much savings, they just enjoy life.

1995年以后出生的年轻人不太一样，当他们大学毕业时，中国大城市的房价已经非常可怕，所以这些年轻人中的许多人成为了“躺平一代”，他们拒绝加班，拒绝买房，拒绝结婚，拒绝生孩子。他们拒绝加班、买房、结婚或生孩子。当然，他们没有多少积蓄，他们只是享受生活。

Freddie Chen
Well, loving accumulating wealth is one of human‘s nature. I do not think that Chinese young people will be the exception here.
Compare with elder generation, things definitely go different with young people. Savings are important, however, good quality life is also important.
Here is the main difference, China is now a manufacturing power compare with old days which means you can really use limited money to enjoy the life.

嗯，爱积累财富是人类的天性之一。我不认为中国年轻人会是例外。
与老一辈人相比，年轻人的情况肯定不同。储蓄很重要，但高质量的生活也很重要。
主要区别在于，与过去相比，中国现在是一个制造业大国，这意味着你真的可以用有限的钱来享受生活。

Thinking about that normal daily using household appliances were luxury days. Take TV as example, set the price aside, there was no such many channels and contents provided not even mention the power supply in old days.
To be simple, it was luxury and not an essense of life. And that is how money saved and mass of all were having the same life standard with you.

想到日常使用家用电器是奢侈的日子。以电视为例，撇开价格不谈，以前没有这么多频道和内容，更不用说电源供应方面的问题了。
简单地说，这是奢侈，而不是生活的本质。主要问题就是：如何省钱，并享受大多数人都拥有的生活水平。

Nowadays, living habits are different. With lowest income, you can still purchase most industrial products like rich people. Difference? They can have good quality and supreme service while you can only have lower range products.
All those things are picking your pocket to lure you spending more money than elder generation. XD

如今，生活习惯不同了。在收入最低的情况下，你仍然可以像富人一样购买大多数工业产品。区别？他们可以提供优质的产品和一流的服务，而你只能拥有低档的产品。
所有这些东西都在掏空腰包，引诱你比老一辈人花更多的钱。免息的。

Chinese young generation definitely is more willing to spend money than elders. Well, most in a proper degree since that we still love savings.
Last but not least, property price and mortgage was not exsiting in the days of old generation. .That is debt. LMao

中国年轻一代肯定比老年人更愿意花钱。好吧，但是，我们仍然喜欢储蓄。
最后但同样重要的是，在老一辈的时代，房价和抵押贷款并不存在。这就是债务。哈哈。

Daniel Li
Chinese civilization is an agricultural civilization, which makes the Chinese very good at managing risk. Debt is an action with risk for the Chinese in general. The Chinese tend to use borrowing as a backup solution against financial risk rather than as a primary solution for cash flow, because when borrowing fails to address financial risk, there is usually no other underwriting solution, meaning it's all about bankruptcy.
Because of this mindset and spending habits, it is common for Chinese people to still choose savings and cash payments first.

中华文明是一种农业文明，这使得中国人非常善于管理风险。债务对中国人来说是一种有风险的行为。中国人倾向于将借贷作为应对财务风险的备用解决方案，而不是现金流的主要解决方案，因为当借贷无法解决财务风险时，通常没有其他承销解决方案，这意味着一切都是为了破产。
由于这种心态和消费习惯，中国人仍然选择储蓄和现金支付为主。

Yaozhou
Depends on family environment and background.
Rich families don't raise their children that way and want them to be confident and independent.
Poor families, with low incomes, are strict with their children and require them to make savings.

这取决于家庭环境和背景。
富裕家庭不会这样抚养孩子，他们希望孩子自信独立。
低收入的贫困家庭对孩子要求严格，要求他们储蓄。

Jo A Han
If during the current economic problems china is facing, having the above beliefs will definitely lead to deflation !!

在当前中国面临的经济问题中，如果持有上述信念，肯定会导致通货紧缩！！