Chinese Millennials Look Beyond Property Investments to Build Wealth
Stocks, convertible bonds, crypto and collectibles are just some of the options that the younger generation is exploring.
Jiahui Wang, livestream host for China Asset Management Co., in Beijing
Photographer: Raul Ariano for Bloomberg Markets
Like millions of other young Chinese, Byron Zhang thinks he’s missed out. For his parents’ generation, investing in real estate was the surefire route to prosperity and security. Now, as prices slump, the population shrinks and unfinished and unsold apartments stack up, the dream of riding that boom has crumbled.
“If you still count on investing in property as a means of growing your fortune, you’re not quite right in the head,” says Zhang, 37, who co-founded a pharmaceutical startup in the tech hub Shenzhen.