More than 30% of young adults in small cities in China live beyond their means

     More than 30 percent of young adults in small cities in China live beyond their means every month, the China Youth Daily reported, citing a recently released report.

    According to a report by the China Youth and Children Research Center, at least 70 percent of young adults in small cities spend all their income every month. Over 20 percent admit to having consumer loans and are under great pressure to repay.

    With the help of online shopping and payment platforms, the consumption gap between young adults in small cities and those in first- and second-tier cities is narrowing, said the newspaper. According to data from Taobao and Tmall, consumer groups in low-tier cities rose rapidly in 2018.

    A study found that young adults in small cities have a strong market demand and are in the process of a consumption upgrade.

     The cost of living for young adults in small cities is lower, so they have more personal disposable income, as well as a stronger purchasing power, said Lian Si, vice president of the center.