Some key facts and figures on China
We give you here a few new key facts and figures on China
Chinese retail sales amounted from January to April 2012 to CNY 6492.2 billion reflecting an increase nominally by 14.7 %. Main contributors were telecommunication equipment (+42.0 % on an annual basis), then building and decoration materials (+25.4 %) and furniture (+25.0 %). Luxury goods sales totaled USD 17 billion in 2011 and already 79 % of low-income consumers earnich more than USD 9500 annually by luxury items. Chinese e-Commerce reached a volume beyond USD 2.4 billion in 2011 (+100 %) and 2012 is expected to generate a sum of USD 3.2 billion. In the luxury segment of E-Commerce – according to the Forrester Research Report – each 26 % of low-income and middle income consumers (up to USD 19000 yearly) along with 33 % of high income shoppers expect that luxury goods to cost less than in stationary locations and this is true because the findings prove that brands like Louis Vuitton, Gucci , Prada, Chanel grant a rebate of 20 % online in China, whereas sometimes the lower priced mass market brands such as Coach and Calvin Klein grant up to 50 % discount. The most extravagant items for sale online – according to Taobao the largest Chinese online offering – were in 2011 Cartier watches at USD 4709k, and a limited edition of a Hermès bag for USD 61316 and was sold immediately. To complete the list, mostly mistresses account for the big chunk of luxury purchases, in 2008 the estimate was one third of luxury purchases and Tom Doctoroff, North Asia Areaa Director of JWT advertising company adds: A trophy concubine costs monthly about USD 8000 and so called “mistress cars” are Mini Coopers and BMW 3 series. In the fashion area – according to Hurun Report – around half of the sales are for (or by) mistresses. A good portion of all of that is displaying power and is bling for the second wife! Second wives like flashy brands because they want to make it clear that heir man is dedicated to them. They lead very insecure lives and they are not independent and they need to advertise the fact that they have a sponsor, adds Doctoroff.
In China the online shoppers’ gender ratio of male to female is 30 : 70 percent and among active shoppers for instance at Taobao is 20 : 80 percent thus for Chinese females e-commerce is the preferred platform for their favorite foreign products.
Thanks to Chinese Mainland shoppers in Hong Kong, Russell Street in Hong Kong’s Causeway Bay is second only to New York’s Fifth Avenue in view to retail space rents, Russel street average rents are US 2472 a square foot compared with USD 2500 on New Yorks Fifth avenue.
The per capita cash expenditure on consumption of rural households registered a growth of 13.3 % in real terms in the first quarter of 2012 and is above the level of cash expenditure on consumption of urban households (+8.8 %).
The rate of inflation was -0.1 % in April as against March.
China’s Entrepreneur Confidence Index was up from 120.9 points in the last quarter of 2011 to 123.0 points for the first quarter of the ongoing year.
China’s exports dropped from the last quarter of 2011 or 14.3 % to 7.6 % in the first quarter of 2012 and to 4.9 % in April. Imports declined from 20.1 % in the fourth quarter of 2011 to 6.9 % in the first quarter of 2012 and in April to 0.3 %.
Some trade figures: trade with the EU was from January to April 2012 slightly up by 0.3 % to USD 170.5 billion, with the by 9.2 % or USD 146.1 billion. Trade with ASEAN countries increased by 6.7 % to USD 117.7 billion and with Japan it shrank by 1.5 % to USD 107.2 billion.
The past six months were negative for the FDI Foreign Direct Investment in China. FDI declined January to April by 2.4 % to USD 37.9 billion.