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Omnialuo Wants to Be the Chinese Ralph Lauren
Posted on August 27, 2008
HSBC has published a report looking into consumer spending in China. Despite a slowing economy and the knock-on effects of the disastrous earthquake in Sichuan, real retail sales growth hit a decade record of 15.4% YOY (to about US$100 billion) in July this year. This was up from 14.8% in June, substantially higher than the monthly average of 12.4% for 2007.The primary reason is the rapid expansion of disposable income (quotes from a Xinhua report): With nearly 1,900 US dollars per annum of disposable income for the urban residents and almost 700 US dollars per annum cash income for farmers, C...
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