What do young Chinese do with their money?
Hunt for a home By TERRY MCCARTHY What’s hot among China’s young city dwellers? It’s not as hip as surfing the Net, not as fun as raving in an underground club and definitely not one of those fads with a shelf-life shorter than Zhu Rongji’s temper. It’s house-hunting and nearly everyone wants in. For the first time since the communist revolution, young urban couples in China have the opportunity and the money to buy their own home. And the same Communist Party that once held all private property to be a hei-nous social evil cannot encourage buyers to jump into the market quickly enough. Huang Jiahong and Xue Mingli are happily taking the plunge. Huang, 30, works in customer service at the Grand Hyatt hotel in Shanghai and earns a relatively comfortable salary of $1,000 a month. Xue, 24, works for British American Tobacco where she makes $400 a month. The two plan to get married next year; until then, they each live with their parents, and spend weekends looking at houses. This is all t