Chinese Rich People "Buy" Luxury World

From the early 70s of last century, Japan began to craze luxury goods and return to rational consumption for 20 years.

Some experts predict that if our luxury consumption is really mature and rational, it will also go through a long process.

Buying China: "wealthy Chinese have to buy it."

Since the beginning of 2011, the news of "Chinese consumers" has been running throughout the year.

According to US media reports, a group of 800 Chinese tourists, a group of thousands of people who joined the Chinese year, arrived at the flagship store of Messi store in Las Vegas Garth Avenue in the evening of the third year of the Chinese Lunar New Year.

They brushed their credit cards and threw money.

In the UK, the media exclaimed in the article: "China's rich people want to buy London!" the latest data show that mainland Chinese buyers are the most expensive people in the high-end real estate market in central London. By the end of February 2011, the average cost of mainland Chinese buyers in high-end real estate reached 6 million 500 thousand pounds, more than that in Malaysia and Hongkong, China.

In France, Chinese buyers are also embracing the red wine industry.

A few red wine buyers from China told reporters that they came to France to visit Bordeaux's winery and prepare to buy one of them to supply the domestic market, because the red wine they sold back was selling too fast.

"Instead of spending time and energy looking for wineries, choosing wine everywhere is better than simply buying one to manage it. Money is not a problem."

At the end of 2011, the Sotheby's auction house in Hongkong auctioned more than 240 bottles of Lafite winery, auctioned for four hours, and more than 240 bottles of wine sold for 8 million 400 thousand dollars, which was 3 times higher than previously expected.

"Every bottle of Lafite will be sold quickly," a buyer told reporters.

Grabbing China: big attack abroad

Faced with huge business opportunities in the Chinese market, these luxury brands are also turning the helm for China.

Fashion designer Mark Jacobs has decided to open two new stores in China in 2012.

Burberry plans to expand its branches from 57 to 100 in 5 years.

LV group is also planning to enter more cities in China.

Now, not only in Beijing and Shanghai, can we see high-end brands, but also in many provincial capitals, such as Hefei and Shijiazhuang, luxury stores have sprung up.

Hermes is the farthest way to go.

In September 2010, the company launched a low price Chinese brand "up and down", integrating local design into furniture, tableware and clothing.

"At present, less than 2% of China's people buy high-end brands," an industry insider said. "But in the next ten years, it will be the golden age of luxury in China."

British media quoted data that by 2020, Chinese luxury goods will exceed 44% of the world's total sales.

Electronic China: online shopping boom may surpass America in the future

"China's e-commerce will surpass the US in 2015."

The headlines of Boston consulting firm's latest e-commerce report read.

It doesn't matter whether it is 2014, 2015, 2016 or 2017.

The point is that this is about to happen, and in the near future.

Admittedly, the Boston consulting company has done a very technical job when presenting these figures: from the total, by 2015, the number of online shoppers in China will increase from one hundred and forty-five million to three hundred and twenty-nine million.

The steep data shape is only one aspect. We have overlooked the fact that when foreign businessmen think of the huge market of 1 billion 300 million people in China, they see the joy of seeing the dollar.

"China is the first major country in the history to develop e-commerce before building a strong retail network," said Jeff Walters, an important consultant at Boston consulting company. "The products sold on Taobao online in 2010 are more than those sold by the top five retailers in China."

Digital China: 2015 will become the second consumer market in the world

Shanghai's American Chamber of Commerce and BOS company recently released a report that China will probably become the second largest consumer market in the world after 2015.

The report points out that with the increase of people's income, by 2015, China will have enough purchasing power to buy 14% of the world's goods.

In addition, according to a recent report from the World Luxury Association, China is catching up with Japan rapidly and becoming the world's largest luxury consumer market.

The increasing purchasing power of luxury goods in China's rich is also being confirmed by more and more data.

According to a report released by McKinsey in March 2011, Chinese consumers' spending on luxury goods will increase by 18% every year, to about 27 billion dollars by 2015.

At that time, China's market will exceed Japan's number one in the world.

In 2009, the figure was $10 billion.

According to Goldman Sachs, the world's leading financial institution, as China's luxury goods sales increase at an annual rate of 20% and the world's first growth rate, China's luxury consumption will reach 14 billion 600 million dollars in the next 5 years, and the number of consumers willing to buy luxury goods will increase to hundreds of millions of people.

Observe China: there will still be room for growth in the Chinese market in the future.

Now, if you want to sell certain types of assets, you must be able to present them to Chinese enterprises, because they are likely to be the best buyers, says Ross Child, joint head of global investment banking at Rothschild, Jim Lawrence.

Laurence added: "M & A activities have been pformed from Western companies' acquisition of assets in China to Chinese enterprises actively seeking opportunities in the world."

Shares in Morgan Stanley, Rio Tinto, the three largest oil giant billions of dollars overseas attack......

In the face of Chinese capital, the US Fortune magazine expressed "exclamation" with "China buying the world".

In their eyes, "China's purchasers' safes are all the more daring contracts signed by state funds."

VOA web site is also an article entitled "the west to see China's dragon swallowing world".

The report said that China's economic expansion and the strong purchasing power displayed by overseas Chinese show that the "China dragon" is going to swallow the world. Europe and the United States pay close attention to China's "buying the world" momentum.

France's "Le Figaro" said that China is "unlimited expansion" of the world, from enterprises, land to ports, debt, they do not buy.

Reported that China's foreign investment is known as "vertigo", from 26 billion US dollars in 2008, 43 billion 300 million US dollars in 2009 to US $60 billion in 2010, the scale is increasing.

There are Chinese buyers from Africa, South America's minerals and arable land to American financial companies and European technology, and China's economic locomotive is "filling the tank with all fuel" in order to "run" ahead.

For example, China's investment in Africa has made the name "China Africa" spread like wildfire.

When the national power continues to rise, China will inevitably continue its path to the world.

The degree of control of the global outward direct investment (FDI) market often shows the economic strength of a country.

Britain had 45% of foreign direct investment in 1914, while the US reached a peak of 67% in 1967. Today, China has only 6%, most of which are state-owned listed companies in China. The growth space of "buying the world" is obvious.

Chinese experts: excessive consumption abroad is not beneficial to domestic demand.

Just as Chinese consumers and Chinese enterprises have gone global, they have also raised concerns about the outside world, especially in Europe and the United States.

This is just like Japan's wave of acquisition of US businesses in the 80s of last century, and China's acquisition is also being worried by the acquisition of an enterprise country.

But the Economist magazine pointed out that China buys the world and the world should be open to it.

Cao Siyuan, director of Beijing Siyuan Social Science Research Center, said that the international hype about China's "buying the world" is similar to that of Japan's "buying the world".

"But in the past, when Japan bought the world, it did not buy the world. The so-called" buying the world "was not a conclusion drawn from scientific statistics.

China's excessive consumption of overseas consumption is not conducive to promoting domestic demand.

Yao Jian, a spokesman for the Ministry of Commerce, pointed out that at present, the price of some international brand luxury goods is higher than that of foreign countries, which affects the decision makers' judgement of trade balance.

"This is not only a concern about the underestimation of imports, but more importantly, it is necessary to bring consumers' purchasing power to luxury goods back to China, which is also an important part of expanding domestic demand."

Data show that luxury suppliers in China took $10 billion 800 million from our consumer pockets in 2011.

In response, experts expressed concern about Chinese consumers who are not rich and extravagant.

Survey data show that domestic consumer spending on luxury goods accounted for 20% of the revenue, while the proportion of other countries is usually not more than 4%.

It is understood that from the early 70s of last century, Japan launched a craze for luxury goods and went back to rational consumption for 20 years.

Some experts predict that if our luxury consumption is really mature and rational, it will also go through a long process.