To our Zeitguide readers,
We were proud to work with our friends at China Skinny to bring you this Zeitguide to Chinese Millennials. China Skinny is a research, digital and marketing agency for international businesses entering or looking to grow their market in China. For even more great insights into China, we suggest subscribing to The Weekly China Skinny.

Global brands are trying to master two booming markets today: Chinese consumers and millennials everywhere. That might make Chinese millennials the most-sought, and least understood, consumer group on the planet. The number of Chinese millennials alone (some 415 million people) is greater than the entire population of the United States, with an aggregate income Goldman Sachs projects to grow to $3 trillion in the next decade.

That’s an unbelievable market opportunity, one that requires more than a cursory understanding of young Chinese people. To help us drill down on this valuable group, we asked China Skinny to give us the lowdown.

Here are five things you may not know about Chinese millennials.

One generation, two attitudes
Everyone born between the early 1980s to the early 2000s is a millennial, but the younger and older sets in China are quite distinct. Those born since the 1990s know their country only as a rising economic powerhouse. Those born in the 1980s, however, experienced a far poorer country growing up, a perspective that earns them a reputation for being harder workers. Their younger counterparts are seen as more demanding and less patient in their careers.

Mobile economy
Millennials everywhere obsess over their smartphones. But in China, millennials have been aggressive users of mobile device workarounds as legacy industries—like banking and retail—were slow to create their own apps. The continual innovation of platforms such as WeChat make all things available from their smartphone, whether that’s groceries, a ride, or a date. And forget cash or card, as mobile payments are the dominant way to pay.

The new collective ownership
While Uber and Airbnb have made Americans aware of the “sharing economy,” in China this concept has shown the greatest potential. Young Chinese share everything from umbrellas to phone batteries. This reflects an attitude that is less focused on owning lots of stuff, and more on saving for premium experiences, like dining or travel.For many other young Chinese, the sharing economy offers a way to live frugally and save up to launch their own startups.

Global outlook, national pride
National identity is a source of pride for young Chinese. Despite having more of a global outlook than their elders, 88% are proud of national traditions and customs and 90% think it important to hold on to family traditions. Some Chinese students studying in the U.S. would like to stay after graduation, but with tightening visa rules and the growing opportunities in China, some see returning home as the better career move.

Discerning consumers
China’s millennials don’t instinctually covet foreign products, a point often missed by global luxury brands. One brand that has succeeded with young Chinese consumers is Estee Lauder. The company got actress Yang Mi to be its brand ambassador, particularly on the social media platform Weibo. It sells its products on the popular e-commerce site Tmall, so they are available to consumers outside the major cities. It also uses messaging app WeChat for customer support and communication. Rather than replicate strategies from other markets, Estee Lauder has been savvy about going where the young Chinese consumers already are.