BEIJING — Chinese President Xi Jingping has reportedly ordered a crackdown on the activities of “fuerdai” or rich second-generation kids. These young people, the offspring of mega tycoons, have enraged the general public and their elders in Beijing with their ostentatious behavior.
Photographs on Chinese social media sites show wealthy young people burning wads of cash, posing while draped over a bed covered in expensive jewelry and buying gold-plated watches for their dogs.
Among the most egregious offenders are those who belong to a group known as the “Sports Car Club.” Several of these high-octane automobile enthusiasts have become famous after reducing themselves and their vehicles to ashes, but prostitution and bribery scandals have also hit the “Sports Car Club.”
Authorities in Beijing are said to have begun a crackdown on the so-called ‘fuerdai,’ and 70 offspring of various tycoons were recently reportedly sent to “Social Responsibility” retreats where they were schooled in “the value of money” and social responsibility.
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