December 7, 2010 Tweeted by @ChinaDailyUSA
"Chinese consumers represented the largest Asia-Pacific group of online shoppers buying from overseas websites in the past year, with a preference for clothing and shoes, a survey has found...
...37% of respondents from the mainland [China] have made purchases on overseas websites in the past 12 months, compared with an average of 32 percent in the Asia-Pacific region...Chinese consumers like to buy things they cannot find locally....Internet users in Taiwan are the biggest spenders, averaging $4,041 in online spending, compared with consumers in the mainland [China] spending $2,557..." >>Continue Reading
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- Online shopping gaining ground in China
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December 7, 2010 Tweeted by @ChinaDailyUSA
"More than 1,280,000 cars, multi-purpose vehicles, sports-utility vehicles and minivans were sold in November, up 27% from a year earlier and [up]10.5% from October...
...last year, when China took over the title of auto sales champion from the United States for the first time...."
..."And sales will be much higher in December as the Chinese government's policies, including tax reduction and subsidies, will expire at the end of the year...the domestic market will easily reach the sales target of 17.5 million units for 2010."
"...The auto market in Beijing saw a surge in November as concerns grow that strict controls on car purchases may be implemented in 2011 to ease congestion pressures."
Tangential Readings to this Article:
In case you immediately think, well then 2 wheelers are the answer...consider that most Chinese cities have banned motorcycles in the last 10 years.
Police destroy 14,277 'illegal' motorcycles with bulldozers
July 30, 2008 by Eric Mu on Danwei
"Shenzhen began taking steps to reduce the numbers of motorcycles in the city as early as 1995. In 1998, the city stopped allowing residents to register new motorcycles and in 2003...Today's article says that since 2003 when the ban took effect, a total of over 580,000 motorcycles and electricity-powered bicycle have been confiscated....
"...One rationale behind the ban is the rampant robberies in the city; robbers riding motorbikes routinely snatched handbags or jewelry from pedestrians and sped away often leaving arriving police in their dust."
"...The article cited a statistics saying that the motorbike robberies this year has declined by 58.32% compared with last year and three motorcycle robbery gangs have been busted by the police...." >>Continue Reading
December 6, 2010 Tweeted by
My take: This is a smart move - the "emerging" market is selling to the "emerging" markets! The designs lack, shall I say, 'style',and are clearly derivatives of other established 'luxury' car brands, but hey, you have to start somewhere.
"Like their counterparts in the high-tech, fashion, and wine industries, Chinese automakers have made a strong push in the last few years to move up the value chain, with the ultimate goal being increased exports not only to emerging countries,..." >>Continue Reading
From Arab News "...For years, consumers in the MENA region have become used to buying small and low-tech made-in-China commodities. But now, they are showing increasing interest in trying something bigger — China’s homegrown sedans. Within a short span of time, cars with Chinese brands are quickly leaving their own marks on streets in the MENA region, from Jordan to Egypt, which had been traditionally dominated by cars from Europe, Japan and South Korea." >>Continue Reading
Stocks: YOKU $YOKU , DANG $DANG , BIDU $BIDU
"Youku.com Inc. (YOKU) had the largest gain for a U.S. initial public offering in five years and E-Commerce China Dangdang Inc. (DANG) almost doubled in its debut after investors flocked to buy into China’s Internet boom.
Youku.com, China’s largest online video company, soared 161% to $33.44 yesterday, after completing a $203 million IPO. The first-day advance was the biggest since Beijing-based Baidu Inc. (BIDU) , owner of China’s most-used Internet search engine, more than quadrupled after its offering in August 2005. China Dangdang (DANG), the country’s biggest book retailer, gained 87 percent after its $272 million initial sale." >>Continue Reading
