Core Insights - The 2025 New京报贝壳财经 Annual Conference highlighted the theme "China's Economy: Co-Growth of Openness and Resilience," focusing on the evolving consumption patterns of young people in China [1] - A report released by Fudan University professor Zhang Yina indicates that young consumers are redefining "usefulness" to include emotional value, local cultural recognition, and social potential, moving beyond traditional functional utility [1][4] Emotional Value in Consumption - Emotional consumption is becoming a significant driver, with 99.9% of respondents willing to pay for emotional value, indicating a shift from functionality to emotional resonance in purchasing decisions [8][4] - By 2025, the emotional consumption market in China is projected to exceed 2 trillion yuan, reflecting a growing trend where consumers prioritize emotional satisfaction over traditional utility [5][4] - The proportion of emotional consumption in total spending has shifted towards the middle ground, with more consumers integrating emotional spending into their budgets [11] Social Dynamics and Relationships - Young people are increasingly favoring "modular socializing," where social relationships are formed based on specific needs and interests rather than traditional definitions of friendship [18][20] - The concept of "搭子" (togetherness) is emerging as a dominant social model, allowing individuals to connect based on shared activities without the emotional burdens of deep relationships [19][21] - Approximately 61.5% of respondents prefer to find social partners through work-related activities, indicating a trend towards functional and efficient social interactions [23] Independent Living Trends - Over 52% of respondents prioritize stable income as the most critical factor for independent living, highlighting the importance of financial security in the pursuit of autonomy [31] - The proportion of single-person households in China has increased significantly, with projections indicating that by 2030, the number of single-person households could reach between 150 million to 200 million [29][31] - Young consumers are increasingly transforming their living spaces into personal sanctuaries, utilizing urban infrastructure for relaxation and emotional well-being [28][29]