The Spring Festival is coming. It's the time of the year when children become "rich" again.
A study showed that more than 50% of students from large cities in China got more than 5,000 yuan in lucky money(压岁钱)last year, with 5% getting more than 10,000 yuan.
How did they spend so much money in their little hands? According to the study, 70% of students younger than 12 gave the money to their parents, while 80% of those older than 12 could decide how to use the money by themselves.
Shen Changfeng, a 16-year-old student at Taiziwan Middle School in Nanshan District, could keep her lucky money. She usually spends most of it on stationery such as rulers, pens and books, while the rest might go toward shopping with classmates.
"This year, the most popular gift must be an iPhone XS Max. One of my classmates bought one last week. I'm going to buy one with my lucky money this year." Shen said.
Every term (学期)after winter vacation, students are more likely to buy snacks, video games and gifts for each other, a teacher named Zhang Jie in Qianhai Middle School, Nanshan District, said on Friday.