Chinese millennials: A growing demographic becomes economic powerhouse

19th CPC National Congress

With a population of nearly 400 million, Chinese millennials, the generation born after the 1979 implementation of the One-Child Policy, has become a growing economic powerhouse, both in China and around the world.

Thanks to number major economic and social reforms in the late 1980’s, they have benefited from an economic prosperity unseen in China. According to a 2013 report by McKinsey and Co., by 2022, 75 percent of China’s urban population will be considered middle class.

They’re reshaping industries ranging from global travel, luxury brands, online streaming, urban housing and much more. Their reach is not only economical, but they are also influencing political and social trends.