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Amy Zhang - 1 Zhang - 1 Becky Liu - 1 Gucci - 1 Kering - 1 Lu - 1 Yunshan - 1 I've - 1
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Search resuls for: "Liangping Gao Marius Zaharia"


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☆ More Chinese seek bargains at Beijing market as confidence in economy wanes
  + stars: | 2023-09-11 | by ( Liangping Gao Marius Zaharia | Liangping Gao | Marius Zaharia | ) www.reuters.com   time to read: +3 min
"I used to love buying branded clothes," said teacher Zhang as she sifted through a pile of garments priced between 15 and 50 yuan ($2-$7). With wages and pensions hardly budging and the job market highly uncertain as more than one in five young Chinese remain unemployed, households' confidence and spending power are low in the barely growing economy. The real estate sector, one of the pillars of the economy, is struggling with massive debt. "One of my customers is a rich woman who used to go to Japan for shopping, but now she comes to my store," said Wang. ($1 = 7.3179 Chinese yuan renminbi)Additional reporting by Winni Zhou in Shanghai; editing by Marius Zaharia and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.
Persons: Amy Zhang, Zhang, Becky Liu, Gucci, Kering, Lu, Yunshan, I've, Wang, Winni Zhou, Marius Zaharia Organizations: Standard Chartered, Thomson Locations: BEIJING, HONG KONG, China, LVMH, Japan, Shanghai
☆ Feeling poorer: Property slump hurting Chinese consumers, clouding recovery
  + stars: | 2023-04-14 | by ( Liangping Gao Marius Zaharia | Liangping Gao | Marius Zaharia | ) www.reuters.com   time to read: +5 min
"I was previously considered wealthy in the area," said Liu, who also owns some commercial property in the northeastern city of Liaoyuan. In play now in China, where around 70% of household wealth is in property, this phenomenon is weighing on the post-pandemic recovery of household consumption, which Chinese policymakers have vowed to make a more prominent driver of economic growth. Capital Economics estimates net household wealth declined 4.3% overall last year, due to falling house and stock prices, the first decline since at least 2001. Indeed, deposits rose a further 9.9 trillion yuan in the first quarter of this year. ($1 = 6.8376 Chinese yuan renminbi)Additional reporting by Shuyan Wang; Editing by Marius Zaharia and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.
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