China's consumer sentiment fell in February to its lowest level in six months, led by a decline in optimism over personal finances, a private report showed.
The monthly measure of consumer sentiment in China declined to 91.5 last month from 95.1 in January, the lowest reading since August 2013, Market News International, a unit of Deutsche Boerse Group, said in a report on Tuesday.
Chinese consumer confidence hit a record high of 111 points in the fourth quarter of last year and ended the year 3 points higher than it started, according to a latest study.
Their confidence translated into the highest intention to spend in more than three years of 47 percent in the fourth quarter, market research firm Nielsen said on Wednesday. Their perception about job prospects also jumped to the highest level since mid-2012 to 75 percent.
Retailers in China were hoping to benefit from a double dose of love this year as Chinese Valentine's Day coincides with the Western one, a rare occurrence.
The Yuen Siu festival in China, also known as Chinese Valentine's Day, falls on the fifteenth day of the first month of the lunar year. This year that coincides with the tradition celebrated in the West by romantics; the last time that happened was 19 years ago.
Alipay, the online payment unit of China's largest e-commerce company Alibaba Group, has become the biggest mobile payment company in the world, it said on Saturday in a message on its Sina Weibo microblog.
The country's largest third-party payment company had nearly 300 million registered users with 12.5 billion transactions by the end of 2013, according to statistics released by Alipay.
China’s consumer market boomed during the first days of the Lunar New Year holiday despite falling luxury gift sales, according to the Ministry of Commerce.
Sales of luxury gifts such as expensive alcohol and rare seafood, which are sometimes sent as gifts to officials during the holiday, have fallen sharply.
Is the language of leadership universal? It's a question many Western executives might be asking as they forge their way in the Chinese business world.
The answer is a bit more complex than a simple yes or no. There are the cultural nuances and ways of doing business that any good leader will study up on before launching into a new territory. But in China, there are also more complex concepts such as "face" and "guanxi" which can override more traditional leadership markers such as strategic-thinking and creativity.
China's retail sales in December rose 13.6 percent year-on-year (yoy) in 2013, the National Bureau of Statistics said on Monday. Compared with November, retail sales jumped 1.24 percent. For the whole year of 2013, the country's retail sales advanced 13.1 percent to CNY23.44 trillion compared with 2012.
Urban areas' retail sales reached CNY20.24 trillion, up 12.9 percent while rural areas' retail sales surged 13.6 percent to CNY3.19 trillion.
China's shoppers may be gearing up for the Lunar New Year gift-giving season, but that may not benefit the mainland's luxury players much, Goldman Sachs said.
The reason? The mainland's anti-corruption efforts are likely to intensify, not just plateau, Goldman said in a note.
RetailWATCH: Ten highlights of China's commercial sector 2014, the Fung Business Intelligence Centre
Mainly larger supermarket operators in China have turned their focus to small-format stores amid weak sales and growing competition. At the same time, smaller-sized retailers, such as small supermarkets and convenience stores, are becoming more popular, according to a new report released by the Fung Business Intelligence Centre Ten highlights of China's commercial sector 2014.
The research centre collected the views of over 160 top-tier economic analysts and unveils 10 highlights identified after a series of votes and formal, in-depth panel discussion.
China's consumer confidence rose for five straight months as of December amid increasing optimism over future personal finances, a private report showed.
The monthly measure of consumer sentiment in China hit 97.5 in December, the highest since June 2012, according to Market News International (MNI), a unit of Deutsche Boerse Group, in a report on Tuesday.