Women at Forefront of Consumer Spending in China – Susan Fenton

“Yueguang Zu”/ÊúàÂÖâÊóè(empty monthly wage group) is used to describe the group of young Chinese white-collar workers who spend their total salary on luxury goods or to live expensive and comfortable lives. Here is an example. From Reuters:

Waiting for a friend in Shenzhen’s plush Kingglory Plaza, Chen Jing, 25, admired her new Nokia mobile phone. Complete with MP3 and third-generation network capability, the red phone cost just over 3,000 yuan – Chen’s entire monthly wage…

Their spending will help determine which foreign brands succeed in China. Analysts at Credit Suisse cite the luxury goods companies LVMH, Christian Dior and Valentino among its top picks, along with Swatch Group, Nokia and Coca-Cola.

Retail sales in China climbed 15.7 percent in the first eight months of this year from a year ago, reflecting rising incomes and urbanization. [Full Text]

September 17, 2007 12:14 PM
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Categories: Economy