By Amie Tsang and Zhang Tiantian
- Sep 11, 2016
HONG KONG — Liu Zhenfeng got hitched at 25. The most common trappings of household life accompanied — a child, house, furniture, toys.
That child, Song Zongpei, now 28, is taking a various course. Ms. Song stocks a rented apartment in Beijing with two roommates and it is concentrating on her job and her funds. She will not see motherhood or marriage in her own instant future. “At this phase, what is very important in my situation is individual development,” Ms. Song said.
Less Chinese individuals are engaged and getting married, a change with profound implications for Asia’s financial and life that is social. The decrease in marriages means a decrease within the quantity of infants, and possibly less shelling out for domiciles, appliances as well as other family-related acquisitions — the kind of investing Asia has to drive financial development.
Currently some companies are thinking solitary. Precious precious Jewelry manufacturers are selling cheaper baubles for unmarried sweethearts. One appliance manufacturer is offering smaller rice cookers. International fertility solutions are marketing for Chinese ladies who desire to freeze their eggs — an activity that is forbidden for solitary feamales in Asia — to have young ones later on.
Nevertheless the wedding slump — caused in big part by China’s aging populace plus the legacy of the harsh one-child policy — has a silver liner. Read More