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China's Economic Zone Boasts Stronger Consumption Power
Education, durable consumer goods and leisure services have become the most popular products in Shenzhen, one of China's special economic zones, in south China 's Guangdong Province.
According to the municipal statistics bureau, Shenzhen's per- capita spending on education and durable consumer items reached 445 yuan (53 US dollars) and 1,040 yuan (125 US dollars), respectively. Cars and PCs have become new household necessities.
More than 21,000 cars were sold in Shenzhen in the first half of the year, up 41 percent from the same period last year.
Experts said household electrical appliances such as TV, air- conditioners, refrigerators and washing machines, that were once considered luxury items ten years ago, have become outdated. Most families have now replaced them with new items.
With more money, Shenzhen people are spending more on houses, international travel, advanced telecommunication gadgets and household services. The upholstering industry in Shenzhen is expected to turnover 3 billion yuan (361 million US dollars) this year, up from 2 billion yuan (240 million US dollars) last year.
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