From pets to holidays, what gets China’s young adults to spend their hard-earned money this year?

Travelling, tech and health supplements – take my money!

That’s the sentiment among young Chinese adults who say these are the top three areas in which they intend to spend more of their hard-earned cash this year, according to one of the nation’s largest annual studies on people’s livelihoods.

And don’t forget about their furry little friends – the pet economy has become one of the fastest-growing sectors among young consumers.

The annual China Beautiful Life Survey found that more than 32 per cent of those between the ages of 18 to 35 plan to spend more money on tourism this year – perhaps unsurprising after three years of heavily restricted travel under the zero-Covid policy.

Chongqing, Beijing, Xiamen, Shanghai and Chengdu were the most popular domestic destinations cited among respondents in that age group.

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The southwestern city of Chongqing saw a surge in tourists during the recent Labour Day holiday, welcoming 6.41 million visitors – roughly 18 per cent more than during the same period in 2019.

Driving domestic consumption, post-pandemic “revenge spending” has also inspired a new style of tourism among young Chinese adults, known as “military-style travel”.

Planning their itineraries with militarylike precision, these travellers aim to visit as many tourist hotspots as possible, often on a budget and within a short amount of time.

The 17th edition of the annual survey was conducted by China Central Television, the National Bureau of Statistics, China Post Corporation and the National School of Development at Peking University. The survey is mailed to 100,000 households across the whole county.

Showing the growing potential of pets in driving spending, more than 12 per cent of respondents aged 18-25 said they would be splashing out more to pamper, care for and entertain their animals – the highest percentage among all age groups.

And more than 75 per cent of that age group also plan on buying more health supplements for their pets, while two-thirds of all surveyed pet owners said they own an animal for companionship and stress relief.

In Shanghai, 23-year-old Magic Sui spends around 3,000 yuan (US$434) on her pets – an 18-month-old Pomeranian and a one-year-old British Shorthair – every month. These purchases include nutritional supplements based on the needs of the breeds, along with food, grooming sessions, and – for the cat – gel that helps control hairballs.

“My pets are like family to me, and I feel better with them around me when I’m going through tough times,” she said.

A Deloitte study in November put the number of pet cats and dogs in China at close to 200 million, with pet-food sales expected to reach 114 billion yuan (US$16.5 billion) by 2026.

Younger Chinese pet owners generally have a high income, with a high level of education, and they live in higher-tier cities, meaning that their social class affects spending on pets, according to Crystal Wang, Deloitte’s advisory leader for Chinese consumer products and retail.

“The rise in people’s health awareness has also driven their willingness to pay for their pets’ health,” she said.

Young consumers pay closer attention to the brands and nutritional value of what they feed their pets, and social media platforms have flourished where fellow pet owners can share their purchases and be influenced by the consumption habits of others, Wang said.

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Meanwhile, the national survey also found that close to 40 per cent of young Chinese adults have one to three hours of leisure time a day. And they are increasingly reading for enjoyment. More than 31 per cent of those aged 18-35 said they intended to spend their leisure time reading – a jump from 21 per cent in 2021.

And more than 38 per cent of that group plan on reading between one and five books every year, with literature, arts, Chinese studies and classics being their favourite genres.

Alan Mao, a 23-year-old graduate student living in Beijing, said he picks up his reading materials daily.

He clocks an average of six to seven hours of reading a week, slipping in time to read his e-book while on public transport and while waiting in lines.

He found himself reading more in recent years. On top of books related to his linguistics major, he also reads about tech, economics and society.

“I read books because the world is changing too quickly, and I need to keep up and learn about the world and human behaviour, as society is complicated,” he said. “As I grow older, I realise that the world is complex, so I deeply treasure my time as a student and try to squeeze in more time to read.”

The survey shows that the post-2000 generation remains the driving force behind online spending, with more than 43 per cent of respondents shopping online during their leisure time, up from 38 per cent in 2021.

As a form of stress relief, Mao said he will shop online for all sorts of snacks, spending around 300 yuan (US$43) a month on snacks and coffee from e-commerce sites.

“Although I try to restrain myself, I spend a lot of time browsing, and I shop online frequently,” he said. “If I like a product from a specific brand, I will go back to them for other items in their catalogue because there’s a level of trust.”