History will be the ultimate judge, but there is good reason to believe that China's recently completed third plenum will come to be regarded as a pivotal moment in the country's development. At long last, China's senior leadership has endorsed a raft of reforms that could impel the economy's shift from reliance on exports to consumption-led growth.
China topped the global retail e-commernce index published recently by A.T. Kearney. Japan, United States, United Kingdom and South Korea rounded out the top five. All G8 countries are in the top 15. However, 10 of the top 30 were also developing countries.
China will encourage spending via online channels and targets a transaction volume of CNY18 trillion (USD2.9 trillion) by 2015 as the country focuses on moving toward a consumption-powered economy from an investment-driven one.
Chinese inflation accelerated slightly to 3.2 percent in October led by higher food prices, the National Bureau of Statistics (NBS) said Saturday. The rise from the same month last year in the consumer price index (CPI), a main gauge of inflation, was a marginal increase from the 3.1 percent recorded in September and marks an eight-month high.
Eighty-eight percent of Taiwanese web users visited a retail site compared with the world average of 74 percent, but Chinese users averaged the most time on retail sites at 149.5 or over 2 hours per month compared with the world average of 79.5 minutes.
These are among the findings of the 2013 China–Taiwan–Hong Kong Digital Future in Focus report released by comScore recently. The report provides an overview of key digital media usage trends in the region.
China's consumer sentiment rose for the third consecutive month in October, led by a significant improvement in both current and future personal financial conditions, a private report showed today.
The monthly measure of consumer confidence in China rose to 95.7 last month from 92.4 in September, posting the highest reading since June, Market News International, a unit of Deutsche Boerse Group, said in a report.
The business climate for foreign brands in China has started to feel frigid. Has the Chinese government lost its appetite for promoting foreign businesses in favor of local businesses? Last week China’s state-controlled CCTV accused Starbucks of high coffee prices and said Samsung’s smartphones work poorly.
The development of multi-label stores in China is being given a boost with the tie up of two regional trade shows designed to encourage entrepreneurs into the market.
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There have been much buzz about brands moving to lower-tier cities as retailers seek further growth. But now, the trend may be reversing. Lower-tier cities may be losing their appeal as a growing number of luxury retailers want to be in first-tier cities again.
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