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Top related persons:
Oliver Wyman - 2 Kevin Frayer - 1 Christine Peng - 1 Christine Peng UBS - 1 Peng - 1 Imke Wouters - 1 Wouters - 1 Morgan Stanley - 1
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Getty - 1 BEIJING - 1 Ministry of Commerce - 1 UBS - 1 CNBC - 1 Consumers - 1 Christine Peng UBS UBS - 1 HSBC - 1

Search resuls for: "Imke Wouters"


3 mentions found


☆ China's consumer spending isn't roaring back to pre-pandemic levels yet
  + stars: | 2023-10-11 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +4 min
Kevin Frayer | Getty Images News | Getty ImagesBEIJING — China's consumer spending still isn't growing as fast as it did before the pandemic, analysts said. Retail sales for the Sept. 29 to Oct. 5 holiday period rose by 9% from a year ago, according to state media reports of Ministry of Commerce data. China's retail sales fell by 0.2% in 2022, according to official figures. In the Asia-Pacific region, Chinese spending on luxury goods has already recovered to 2019 levels, the report said. Consumer spending has lagged China's overall economic growth since the pandemic started in early 2020.
Persons: Kevin Frayer, Christine Peng, Christine Peng UBS, Peng, Imke Wouters, Oliver Wyman, Wouters Organizations: Getty, BEIJING, Ministry of Commerce, UBS, CNBC, Consumers, Christine Peng UBS UBS, HSBC Locations: Beijing, China, Hainan, Europe, Asia, Pacific, U.S
☆ China's big 'Golden Week' is here. Three hot destinations for spending — and a stock with 95% upside
  + stars: | 2023-10-01 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +5 min
Whether it's by train or by car, hundreds of millions of people are traveling around mainland China for a holiday called Golden Week. From the Mid-Autumn Festival on Friday, Sept. 29, to the following Friday, the break runs for an entire week to celebrate China's National Day. Morgan Stanley analysts like Hong Kong-listed CTG Duty Free , China's state-owned duty-free retail giant. Within China, domestic hotel room rates are still above 2019 levels, Morgan Stanley analysts said. On the macro front, if tourism pans out as expected this Golden Week, it will give a much-needed lift to China's the economy overall.
Persons: Morgan Stanley, They're, Oliver Wyman, Oliver Wyman's, BlackPink, Atour, — CNBC's Michael Bloom Organizations: Bank of America, Hong, Golden, MGM China, Wynn Macau Locations: China, Hong Kong, Hainan, Macau, U.S
☆ Analysis: Fewer luxury shoppers but bigger spenders as Chinese return to Europe
  + stars: | 2023-05-05 | by ( Casey Hall Mimosa Spencer | Casey Hall | Mimosa Spencer | ) www.reuters.com   time to read: +6 min
But with flights remaining limited after China's border reopening in January, European luxury stores will need to wait longer for the return of masses of tourists they once depended on for growth. The average transaction value by Chinese travellers in Europe in March was 28% above 2019 levels, UBS said, citing data from VAT refund provider Planet. Cartier-owner Richemont (CFR.S), Hermes (HRMS.PA) and LVMH were best placed to benefit from wealthy Chinese shoppers, UBS added. As wealthy Chinese return to Europe and other foreign destinations, the appeal of China's Hainan Island, a duty free shopping hotspot, appears to be waning among top luxury spenders. China's "higher income, top luxury spenders (are) already travelling abroad again," she said, leading to an observable lower per-capita spend in Hainan.
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