With the recent anniversary of the Tiananmen Square protests, we are reminded of all the conflicts that have marked China’s evolution away from the Communist Party. Even though there is still more progress to be made, China is a capitalist as ever and there is an obvious change in Chinese culture. BBC elaborates on the China’s societal shift:
“‘Previous generations never even thought about investing money because they were poor. They were just concerned about having enough food and warm clothes,’ Mr Zhan told the BBC.
Zhan Weisheng teaches Chinese investors about how to invest their money
‘But because the economy’s now booming, that problem’s been solved and people have money, so naturally they have to think about how to invest it.’
Mr Zhan and the team at Hengtaidatong hope to direct investors towards their own products, although they present their gatherings as attempts to learn. The host called it a ‘salon’.
‘This isn’t a lecture – this is supposed to be relaxing. It’s us learning together about how to invest in gold,’ he told the audience as they settled into their seats.
Mr Zhan’s main tool of instruction was a game, using fake gold bars, pretend cash and real-life scenarios.
The audience were given a set amount of gold and money, and then had to make investment choices after being told information that could affect the price of the precious metal.
The death of Osama Bin Laden, the bombing of Libya by Nato planes and the down-grading of credit ratings for certain European countries were all events that investors had to factor into their calculations.
A group of smartly dressed and attractive assistants buzzed around the room with calculators to help those having trouble with their sums.
Mr Zhan did his job well. After the session, 20 people said they would buy gold worth about one million yuan ($159,000; £99,000).
Of course, the price of gold, which has reassuringly risen sharply over the last decade, must have helped investors make up their minds.
Seminars are not the only way to learn about making money. There are also thousands of self-help books.”
“Self-help books are also gaining popularity among those seeking wealth”
“Getting a better job, making money and starting a business are relatively new concepts in China – but they are all occupying the thoughts of the people who live here.”
