This study explores how 165 Chinese–Singaporean school youths differ as to their perception of the assets (communicative, pragmatic, cognitive and general) and costs linked with Mandarin–English bilingualism and their Chinese–Singaporean identity. Bilinguals' self-assessed skills generally appear the best index of local Chinese youth's attitudes towards Chinese–English bilingualism and identity, irrespecive of their actual job, gender or socio-economic position.