Australia And Europe Are Winning Chinese Traveler’s Wallets
Last year, Chinese cardholders led the growth of tourist spending in Australia, with a 11.6% increase in spending compared to 2011. According to retailinasia.com Australia becomes fourth highest inbound source market after the United Kingdom, United States and New Zeeland. On the other hand, when it comes to shopping abroad, Europe gains the heart and the wallets of the wealthy Chinese consumers. The products purchased by Chinese customers are heavily Europe-centric, a good reason for countries such as Italy, Germany and France to attract travelers. According to Hurun Reports cited by jingdaily.com, gifting is still the main reason for Chinese luxury shopping, and the two main gifts for men are watches and red wine, where countries such as Switzerland and France have a major advantage.
China’s Animation Industry Expected To Decline
85% of the enterprises in China’s animation industry, estimated to be worth more than 100 billion yuan, have suffered losses amid dwindling production of made-for-television animated films, according to wantchinatimes.com citing Guangzhou’s Southern Metropolis Daily. Television animation productions are expected to decrease from 3,716 hours in 2012 to 2,500 hours this year. This is a result of the measures put in place by the government that prioritize high-quality made-for-television films. More than two-thirds of China’s provinces have introduced policies to support the development of the animation industry, through subsidies, tax rebates and exemptions. Still several companies are expected to withdraw from the animation market this year.
E-commerce Rivals In China Set To Launch New Price War
Later this month a new price war is expected to start among Chinese e-commerce retailers, following the tradition set up in 2009 by Jingdong Mall, formerly know as 360buy.com, to hold anniversary celebrations in the form of discounts every June. This year’s celebrations will encompass the widest array of special offers available for over a decade and will be launched on its anniversary on June 18, notes wantchinatimes.com. For the promotions, Jingdong Mall conducted an employment drive and it promises to provide a speedy delivery service during the promotional period. Rival Suning Yun Commercial Group will also join the price war, aiming to drop prices for products online and in its retail stores focusing on three time slots, 10 am, 2pm and 8 pm.