Smarter with their money

Managing their finances properly and putting away something for a rainy day is almost second nature for a lot of young people these days, Chen Meiling reports.

Chinese millennials are more financially savvy than they're believed to be - they not only save every nickel and dime, but also invest for the future, a new report shows.

Those born after 1990, in particular, are more financially conscious than the previous generations, as 80 percent of the 20-somethings involved in the survey say they will manage their money, according to the report, which was released in late July by Chinese mobile payment giant Alipay and Hangzhou-based think tank China New Economy Research Institute.