unmarried mothers child-raising or healthcare subsidies and having children out of wedlock is often frowned upon.
"You have a lot of consumers that are just saying 'well, you know, marriage isn't the right thing for me' and a lot of younger adults in China feel that raising kids is just too expensive," said Ben Cavender, managing director and head of strategy at China Market Research Group.Before the pandemic hit, weddings were big business in China, with Daxue Consulting estimating the industry to be worth 3.6 trillion yuan in 2020.
Couples traditionally splash out on gold jewellery, elaborate decor and luxury venues but Frank Chen, from Chen Feng Wedding Planning in Shanghai, says few weddings this year had a budget of over 100,000 yuan . "People are more inclined to go for a simple and niche wedding," said Chen, adding that a decade ago, it was common for couples to spend millions of yuan.
Many weddings planned for 2022 were postponed by COVID-19 lockdowns, resulting in a busier 2023 for some firms.
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CBS21NEWS - 🏆 304. / 63 Read more »