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May 17 – China's contribution to the world's spending on luxury goods is will climb to 40% in the next 10 to 15 years, by which time contributions from its second tier cities will exceed the current spending of Shanghai, Beijing, Guangzhou and Shenzhen, according to Roland Berger. At present, China is responsible for $11.45 billion out of a $165.33 billion global market. An additional $63.59 billion will be generated in the global market in the next 10 to 15 years, and China will contribute $25.44 billion to that amount, Roland Berger added.
http://finance.qq.com/a/20120517/004330.htm
May 17 – China will lead the world in online retail sales in two years - by which time it will have surpassed both Japan and the US - according to a report released by the Chinese Academy of Social Sciences. Chinese online shopping receipts rose 67.8% to ¥750 billion, to account for 4.3% of total retail sales, last year.
http://www.yicai.com/news/2012/05/1732919.html
May 15 – Imports are expected to account for half of the revenues from China's wine market in three to five years, up from 30% now, experts say. France, Australia and Spain are the top three sources of imported wine for China. The nation's spending on wine totaled ¥45 billion in 2011, making it the world's fifth largest market.
http://www.cs.com.cn/xwzx/05/201205/t20120514_3350185.html
May 15 – Sephora, a cosmetics retailer operated by France's LVMH Moet Hennessy Louis Vuitton SA, said it plans to open 28 stores in second and third tier Chinese cities as the markets are already saturated in the largest cities.
http://www.linkshop.com.cn/web/archives/2012/208752.shtml
May 14 – China's retail sales are expected to grow 17% annually to ¥32 trillion by 2015, the China Chain Store & Franchise Association predicted.
http://www.yicai.com/news/2012/05/1719828.html
$1 = ¥6.32
@2011 China Economy @ The China Perspective.
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