In 2024, the number of pets in China's urban areas reached 124 million. Young people earning $700 a month are willing to spend $70 on pet food. For them, pets are the perfect emotional outlet – no KPIs and they never leave you on "read." Behind this spending behavior lies China's rising wave of "emotional consumption" – and the pet economy is right at its center. Welcome to Unboxing China. Today's topic: China's booming pet economy.