Millions of Chinese consumers ditch their credit cards amid prudent spending, slow economy
Weak consumer spending and a crackdown on inactive accounts have led to a plunge in the number of…
Changing tastes: China’s new affluent consumers seek quality not extravagance
In a premium supermarket in Shanghai one recent weekend, 33-year-old information technology specialist Zhao Wenyu paused in front…
China still ‘beating heart of global luxury’ as French giant LVMH signals faith in market
French luxury giant LVMH has expressed full confidence in the Chinese market despite sluggish consumption in the world’s…
China’s cash-conscious consumers force Europe’s luxury giants to think small
In the Paris boutique of a Swiss luxury watchmaker, a Chinese customer anxiously discusses a credit card payment…