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US-based Chinese entrepreneur Blanche Yuan, who enjoys posting about her lavish lifestyle, has gained a lot of haters lately and she can’t understand why.
In 2010, she reportedly left Beijing and attended high school in Washington DC when she was 17 years old, reported South China Morning Post. She proudly admitted to having had more than 20 boyfriends during her high school years.
Yuan, now 23, currently lives in a seaside condominium and studies at a private university in DC. Her parents, who bought her fancy home for HK$5 million (around $645,000), send her a monthly allowance of HK$230,000 ($30,000).
She has only been recently active on social media, posting photos about her regular nightlife hangouts and expensive purchases. The feedback she has been getting, however, are mostly negative.
“People assume I’m flaunting my wealth, but that’s just how my life is. I try to be low-key now, but sometimes I can’t help telling the world what I have bought because of my vanity,” Yuan was quoted as saying.
Along with her other rich Chinese friends, she is often seen hitting exclusive bars and private clubs multiple times a week. Living in a lifestyle of luxury cars and expensive custom-made clothes, Yuan embodies the typical wealthy mainland Chinese youngsters who are largely despised for their extravagance.
Chinese media usually refer to them as “Fuerdai,” a collective Chinese term used for the children of the Chinese nouveau riche of the early years of China’s reform era. Now, the label has become synonymous to national embarrassment with several scandalous stories being published of late involving them.
Even President Xi Jinping have expressed his concern about the fuerdais, advising them to “think about the source of their wealth and how to behave after becoming affluent.”
According to Yuan, they have become the victims of media’s negative reports about the rich Chinese kids.
“Recently, the hostility towards wealthy Chinese has got worse. We are loathed. Although I have some super-rich friends living in huge houses and with piles of luxury watches, many also work hard building their own businesses,” she said.
In order to gain some experience in becoming an entrepreneur, her parents even gave her HK$4 million (around $515,000) to start an investment company.
“Most of them are enterprising and have a lot of aspiration. We were born into a rich environment through no fault of our own. Different living environments nurture people with different characteristics and lifestyles,” she added.
“Since I was young, my parents have been able to give me whatever I’ve wanted. I was the family’s little empress. I used to embrace a lavish lifestyle, but now I want to be financially independent. Although the investment company is a small business, I can use the earnings to help pay my living expenses, and don’t have to take pocket money from my parents all the time now.”