Diligence & Thriftiness: Chinese pass down value of frugality through generations

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Diligent and thrifty. This is how many Chinese people describe themselves. Some believe it's a Chinese value, with being frugal a good approach to life. Others say it's a remnant of the past. CGTN's Zhao Yunfei went to the Xiong'an New Area to explore how different generations there are managing their money.

Music A qipao dancing team founded by local residents in the Xiong'an New Area, one of many folk art groups in China's street parks.

Chen Xiaoyan, a civil servant who works at a culture department, initiated the group with her friends in a bid to inherit traditional culture.

Conversations after the rehearsals are usually about families and friends. But sometimes the sisters get a little serious and talk about how to control their budget for the volunteer group.

CHEN XIAOYAN CIVIL SERVANT "When we get together, we should not spend too much money, and this is also part of our tradition. The purpose of the dancing is to ensure a healthy lifestyle."

Frugality is always their top priority.

ZHAO YUNFEI XIONG'AN NEW AREA "In recent years, China's gross saving rate has been kept high at nearly fifty percent. People like Chen Xiaoyan prefer to save half their income for future use -- like buying a house, raising a child or paying for medical services. For many, this strict saving habit is almost like a tradition."

But where does the idea of simplicity come from? Xiaoyan took me to a private museum that collects objects when she was young in the 1960s and 70s. China's first television, first sewing machine and room layouts from the old times are on display. Curator Zhao Zhanliang showed us some ration stamps, coupons for food.

ZHAO ZHANLIANG CURATOR "In the old times, the conditions of our lives were not ideal and the manufacturing was not advanced. But nowadays, we have very diverse commodities, you can basically get whatever you want. That's why we now treasure the fruits of hard work."

Xiaoyan says she and her husband always tell their daughter Dong Wanting to spend wisely. The daughter is about to give birth to a baby. She believes, to live a better life means more than just saving.

DONG WANTING CHEN'S DAUGHTER "I think I should put my extra money into financial services, so that I can get more money to improve my life. As a young adult, I should have such awareness to manage my property."

The mother says conspicuous consumption is not acceptable.

CHEN XIAOYAN CIVIL SERVANT "If you waste your money, you will be stretched when there's an emergency. So we should have the habit of collecting and saving little by little."

Xiaoyan says her values were influenced by the older generations and she is passing the idea along. And Even though she and her friends are now living an affluent life, remaining thrifty is always a rule to follow. Zhao Yunfei, CGTN, in the Xiong'an New Area.