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Alice Yan

Every summer, mainland Chinese parents send their children to join a variety of costly physical training camps or even travel to Africa to observe animal migrations.
Over the past two years, new financial quotient (FQ) training classes aiming to cultivate “little Warren Buffetts” have gained significant popularity among parents concerned about their children’s futures, as reported by Phoenix Weekly.
“Poverty is not a status, but a mindset.” “You are a liability to your parents when you’re young, but you will become their asset when you grow up.” These slogans are commonly heard at FQ training camps.
The classes typically last from a week to 10 days and charge a minimum of 12,800 yuan (US$1,900) per child. Students acquire basic financial literacy and learn about entrepreneurship and wealth management, preparing them to “win at the starting line of the FQ race,” as many camps assert.

They have become so popular that parents must reserve spots several months in advance. Some parents have taken to social media to inquire whether in-person training camps will be held in their cities.
At Daxiang Teenage FQ Summer Camp, for instance, instructors simulate stock markets, investor meetings, and grocery product trade scenarios, providing tokens to students who participate in buying and selling at these “markets.”
Students are guided to evaluate their profits and losses at the end of each day.
Another camp, FQ Little General, organises excursions where students identify potential business opportunities, sell small items at street stalls, write business plans, and prepare financial statements.
They also conduct mock roadshows in which students deliver speeches in English and respond to challenging questions from “investors.”

In addition to these foundational FQ training sessions, some camps offer advanced and niche programmes at higher prices, aiming to foster general leadership skills or entrepreneurship in STEM (science, technology, engineering, and mathematics) fields.
Certain camps advertise visiting scholars and financial experts to provide students with insights into the industry.
A mother from Zhejiang province in eastern China reported that her daughter, a primary school student, became more self-motivated after attending an FQ camp.
“She has changed significantly. In the past, she was lazy with her studies. Now she has a clear goal: making money. I’ve noticed she is much more focused on her tasks,” the mother, surnamed Mei, shared on social media.
However, some parents express concerns that their children became overly money-driven after the FQ training. They noted that their children began seeking financial rewards from parents in exchange for academic performance or household chores they completed.

A mother from Henan province in central China mentioned that she will not send her seven-year-old son to FQ camps because they fail to teach children that business success is not achieved overnight.
“Data worldwide indicate that 90 per cent of start-ups fail. Yet, in these FQ classes, children easily learn to make money. It’s a business show, not a reflection of real-world ventures,” she remarked.
The rise of FQ camps for young people is often attributed to the challenging job market in China.
The overall urban unemployment rate in the country was five per cent in June, but the rate for those aged 16-24, excluding students, approached 15 per cent, according to the National Bureau of Statistics.


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‘Little Warren Buffetts’: Chinese parents pay top dollar to send kids to financial literacy camps

Over the past two years, financial quotient (FQ) training classes aimed at transforming youngsters into “mini Warren Buffetts” have surged in popularity among parents eager to equip their children with money management skills. Photo: SCMP composite/Shutterstock/RedNote

A student presents a financial plan at one of these immersive FQ training camps, which typically span a week to 10 days and charge a minimum fee of 12,800 yuan (US$1,900) per participant. Photo: QQ.com

Participants engage in realistic simulations at these camps, navigating stock markets, investor meetings, and product trading scenarios, earning tokens for their active involvement in buying and selling activities. Photo: QQ.com

Chinese parents send their children to these camps hoping to mould them after Warren Buffett, a widely recognised role model for financial acumen and integrity. Photo: AP Photo/Nati Harnik

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People & Culture

‘Poverty is a mindset, not a status,’ resonates as a powerful mantra often heard echoing through the FQ training camps


‘Poverty is a mindset, not a status,’ resonates as a powerful mantra often heard echoing through the FQ training camps.


Warren Buffett

Children in China

‘Little Warren Buffetts’: Chinese parents pay top dollar to send kids to financial literacy camps

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}‘Poverty is a mindset, not a status,’ resonates as a powerful mantra often heard echoing through the FQ training camps

‘Poverty is a mindset, not a status,’ resonates as a powerful mantra often heard echoing through the FQ training camps