Chinese women are teaming up with strangers to save money - BBC News

They are finding new ways to cut back on household spending as China’s economy loses steam.

13 hours agoShareclose panelShare pageCopy linkAbout sharingImage source, Xiao ZhuoImage caption, Kathy Zhuo wants to save more money as China's economy slowsBy Sylvia ChangBBC Chinese, Hong KongDuring the pandemic, Kathy Zhuo and her husband were forced to take a 50% pay cut. It was a huge blow because she also had to take care of her mother, who was diagnosed with cancer five years ago.

"We barely had money left each year. I felt insecure but didn't know what to do," says the 36-year-old mother of two, who lives in Fujian, a province in southern China.

The shock to her family's finances prompted Ms Zhuo to join the trend of young Chinese people seeking partners - or da zi - with similar interests online. But instead of travelling or exercising together, she has teamed up with people who want to share tips on how to save money.

The hashtag "saving da zi" first emerged on Xiaohongshu, China's version of Instagram, in February 2023. It has attracted 1.7 million views so far, according to data analysis firm Newsrank. On Weibo, topics about so-called saving partners have been viewed millions of times.

The trend shows a "low confidence in the future economy", says Lu Xi, a public policy professor at the National University of Singapore. Even though the Chinese economy grew faster than expected in the first quarter, it still faces a deepening property crisis, falling foreign investment and mounting local government debts.

https://www.bbc.co.uk/news/world-asia-china-68692375

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