[photopress:apartment.JPG,full,alignright]According to an Internet survey conducted by sohu.com, of nearly 10,000 young Chinese adults, 70 percent of them think nothing of asking their parents for money to buy a flat. Only 30 percent stated a preference for independence and self-reliance.
According to the survey, 84.85 percent of the respondents in Beijing think that it’s common practice to buy apartments with parents’ money. In Nanjing, capital of Jiangsu Province, 86 percent support the practice; in Chengdu, capital of Sichuan Province, the figure was 74.16 percent; and in Tianjin, 87.71 percent.
Ma Lei, an editor with sohu.com, offered an explanation for this behavior. The average monthly income of a young person new to the workforce in Beijing is between 2,000-3,000 yuan (US$250-375). The down payment alone on a regular apartment these days is equivalent to at least five years worth of savings.