Latest News:  
Beijing   Sunny/Cloudy    23 / 11 ℃  City Forecast

English>>China Business

Decoding the Chinese consumer

(China Daily)

13:47, August 14, 2012

(Photo/China Daily)

As spending slows, fresh focus on shoppers expected to drive global and Chinese economies

This still largely faceless individual is seen as providing life support to the stuttering economies of Europe and prodding the nascent recovery in the United States.

He or she is also key to the Chinese government's plans to move the world's second-largest economy from being export-oriented to more consumer driven.

But what is the DNA of this person? And what makes him or her tick? These questions have become more in focus recently because there has been concern Chinese shoppers are easing up.

China's consumer confidence index, according to data published earlier this month, showed a marked decline from 104.2 in May to just 99.3 in June.

With spending showing signs of drying up, there has been evidence of a price war in China with Gome, a leading domestic electronic retailer, offering 50 percent online discounts and even McDonald's slashing the price of its value dinner to 15 yuan ($2.35, 1.90 euros).

This weakening in the consumer mood was also detected by global information company Nielsen in its China consumer confidence survey published earlier this month.

It showed confidence slipping five index points in the second quarter to 105 from 110 in the first three months of the year, although the confidence level was still 14 points ahead of the global average.

【1】 【2】 【3】 【4】



News we recommend:
Has the bear outstayed his welcome? Steel profits continue to suffer China has entered an era of low consumer prices
Firms should watch out for Internet threats China's property market to cool down: experts Why have people lost trust in data and indices?
US takes trade remedy actions against China  Chinese prefer foreign brands Mascot maker feels pinch of rising labor costs

Email|Print|Comments(Editor:李倩、厉振羽)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Chinese weapons arouse heated discussions

  2. Hug is a universal language of love

  3. iPhone 5 a new business engine

  4. Chinese models invade catwalk

  5. Explosion !!!

  6. What are these ??Can you guess?

Most Popular

Opinions

  1. 'Economic war' with Japan unwise
  2. An end to the era of double-digit growth
  3. Human resources need more investment
  4. Japan should know facts rather than rhetoric prevail
  5. Be vigilant against resurgence of militarism in Japan
  6. Easy times gone for foreign firms in China
  7. Noda gov't in hot water as LDP eyes comeback
  8. White paper makes watertight case for Diaoyu claim
  9. Intl firms should learn from Chinese counterparts
  10. Aircraft carrier brings timely morale boost

What's happening in China

Job fair for overseas returnees held in Beijing

  1. Doubts remain in railway bids
  2. 2,000 in hospital brawl after woman dies
  3. Capital starts releasing new PM2.5 air quality data
  4. Food poisoning sickens 42 kids, one dead
  5. Five killed in gold mine fire in NW China

China Features

  1. More chances for Chinese, Canadian businesses
  2. Culture invasion? Starbucks kisses Buddha
  3. Public should enjoy more 'tourism benefits'
  4. Ancient villages face losing their souls
  5. Economic circles key to Sino-Japan relations

PD Online Data

  1. Ministry of Water Resources
  2. Ministry of Railways
  3. People's Bank of China
  4. Ministry of Health
  5. Ministry of Culture