Sometime in the next five years, the number of people in China under 30 years old will come close to matching the EU's total population, writes Hannah Seligson of Forbes.  And she says a lot of them are "embracing entrepreneurship" rather than idolizing Mao:

The incomes of twenty-somethings in China grew 34% in the past three years, the largest growth of any age group, according to a survey by Credit Suisse ( CS - news - people ). While large industries in China--such as banking, steel, telecommunications and electricity generation--are still essentially state-owned, a growing chunk of new wealth being created comes from the hard work and vision of scrappy upstarts.

Seligson profiles nine young Chinese entrepreneurs, from several new leaders in social-media, to a market-research firm that works with multinational giants like Nokia and PepsiCo to learn about the habits of China's youth.  Take a look here.