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Chinese Students’ Pocket Money Surges Over 5-Fold, Xinhua Says

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Dec. 7 (Bloomberg) -- The pocket money for China’s middle school students averaged 382.3 yuan ($60) a month in 2010, compared with 67.7 yuan 10 years earlier, Xinhua News Agency said, citing Beijing-based research firm Horizon Research Group.

Nearly one-third of 2,099 university and middle school students surveyed said they made decisions about major purchases, including houses and cars, with their parents, although they still depend on their parents for money, Xinhua said, citing the survey.

To contact Bloomberg News staff for this story: Daryl Loo in Beijing at dloo7@bloomberg.net

To contact the editor responsible for this story: Jason Gale at j.gale@bloomberg.net

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