The global economic recession is forcing the rich in China to scale down their spending on luxury goods, but it cannot hold back the rapid growth of wealthy households, according to a report released recently by global management consultancy McKinsey & Company. China is expected to be the world’s fourth largest country with wealthy households by 2015, after the US, Japan and the UK. The nation is expected to have more than 4 million wealthy households by then, the report said […]
Category: Consumer Behavior
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China aims for 10 million units in both vehicle production and sales this year, according to an online government document concerning detailed automobile support package. China’s automobile industry is to yield an average 10 percent growth for its production and sales in the next three years, said the document, released on recently […]
China is rebalancing its economy to focus more on domestic consumption than exports in order to achieve its growth target, Chinese Premier Wen Jiabao has said. Addressing an Asian regional forum in southern China, he announced a $10bn (over 1.5 billion US dollars) fund for infrastructure projects in south-east Asia […]
In this funny (and actually poignant) 3-minute talk, social strategist Renny Gleeson breaks down our always-on social world — where the experience we’re having right now is less interesting than what we’ll tweet about it later […]
6 in every 10,000 people in China have a personal wealth of more than 10 million yuan ( nearly 1.5 million US dollars), shows the recently issued “Hurun Wealth Report 2009”. After the report came out, it immediately raised a lot of doubts among netizens: “Have Chinese people really become so rich?” […]
The Hurun Research Institute recently released a report showing the plummet in wealth of the top 20 richest people on the 2008 China Rich List. According to the report, the net worth of the stakes that China’s top 20 richest people hold in their listed companies had shrunk by 91.1 billion yuan or 40 percent […]
Despite a struggle to meet global demand, Champagne houses are fighting for market share in the growing Chinese mainland market. Two differently-structured maisons with similar approaches to quality and food and wine pairing are trying to convince local bubbly lovers there’s more to the region than Moet or Mumm […]
One out of every three cigarettes is lit in China, and respiratory disease is on the rise. Some are asking what the future of smoking will look like in China. US-China Today clears the haze […]
China’s online game market has expanded noticeably. To date the number of online gamers in China has reached 55.5 million, a recent report said. Statistics show that, of the total number of online gamers, those under the age of 22 accounted for 52.5 percent, gamers with education backgrounds of junior college level and below made up 77.1 percent, those with no income accounted for 30 percent. Gamers in the group with an income are mainly concentrated at the income level of 1,001 to 2,000 yuan […]
Dan Saffer calls out the Interaction Design community for allowing distracting topics to consume our attention, and for paying too little attention to “moonwalking bears,” the opportunities interaction designers can take advantage of in the near future […]