China's President Orders A Crackdown On S ex Partying, Ferrari-driving, Money-burning By Rich Kids

The Public has grown sick of the Chinese young 'fuerdai' which translates as 'second rich generation'. China's president ordered a crackdown on them to teach them the value of money.

And many in the country – including Chinese President Xi Jinping – fear that their money-burning lifestyles are getting dangerously out of control.

Their dogs wear gold Apple Watches. They smash up supercars like they are toys. They boastfully post pictures of their bank statements online. They hide behind their parents' clout when they get in trouble with the law. And they make the Rich Kids Of Instagram look like penny-pinchers.

And after a massive public backlash against the fuerdai, Xi demanded that they be taught the value of money - so 70 of the billionaires' children were sent to a 'social responsibility' retreat where the fine for turning up late was £103. More photos below...

"There seemed to be a lack of parenting when they were growing up... They usually study abroad and their parents tend to feel guilty, then show redemption by giving more and more money to them" - Wang Daqi, author of Children of the Wealth

They often work as casual business investors or are unemployed, and are the immensely wealthy sons and daughters of Chinese business people and government officials.

This year, mainly due to the rise of social media in China, public scorn for them has reached fever pitch.

One of the biggest previous backlashes against them came in 2013, when a series of fuerdai scandals shone a light on the generation's shocking and excessive behaviour.

In April that year Shanghai Daily reported on rumours of a fuerdai sex and drug party in Sanya, Hainan province.

Source: DailyMail

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