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Chinese Legislators Head Home Leaving Beijing Luxury Shelves Bare

Posted March 19th, 2012 at 3:05 am (UTC-5)
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Chinese state media are reporting some high-end stores in Beijing were cleaned out of luxury goods during this month’s meetings of the nation’s legislature and top advisory body. The Communist Party-affiliated Global Times newspaper quotes a luxury industry expert who says he tried to buy a $44,000 Hermes diamond-decorated belt buckle but found the item […]

Tags: , Posted in East Asia Pacific

Rich Chinese Drop $7.2 Billion Abroad in Holiday Spending

Posted February 2nd, 2012 at 12:25 pm (UTC-5)
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A leading research group says Chinese consumers spent a record $7.2 billion abroad on luxury goods during the Chinese New Year’s holidays, which ended last week. The World Luxury Association figures, reported in Chinese media, says luxury consumption jumped nearly 30 percent from 2011 and far surpassed spending projections formulated last year. The People’s Daily […]

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