Largest Luxury Market of World

With more than thirty years development based on its reform and open policy, China has become the second economy of world and the biggest economy engine of Asia, the Chinese now become the fastest growth nation of world and its government has the largest quantity of foreign exchange reserves and so as its people’s savings. The Hurun Rich List 2012, an authoritative and famous magazine just like the Forbes in western world, has just give a report on China’s wealth people, and the rank and name has been arranged compared to the its last year report, all lot of companies and upstarts have the foremost rank this year. And the Eighteenth National Congress of the Communist Party of China will be hold in Beijing at the November 8^th, and all the indexes which can illustrate the growth of wealth of its people will be regarded as brilliant achievements of the CPC party. I recently concerned the CCTV News programs; every night is has a small summery PPT presentation of achievements which gained in the past ten year since Hu Jintao, the president of China and the general secretary of the CPC party came into power.

As an observer, I notice that the China now is the largest market of luxury goods and a lot of fashion brands have took China as a target market to promote and sale their fashion products. Statistical information from China National Tourism Administration shows that in the past ten year the Chinese consumption abroad during their trips growth year by year, and most of the money from the wealth social stratum spends on luxuries. For example, during the London Olympic, the Chinese delegation of athletes buy the most fashion goods from fashions stores of Burberry, Louis Vuitton, Chanel, Calvin Klein and Michael Kors. Handbags of Michael Kors, Perfume of Chanel, and Bra of Victoria's Secret are the most likely choice for those young athletes. And the sellers of these fashion brands really get the fate from the Chinese. And these just a sample that Chinese like buy luxury goods and somewhat their action of buy always are bulk ones which without much consideration and selections, they like buy those handbags, sexy bikini, and other accessories by the sight.

I am interested in the strong process of buy because these Chinese might earn their wealth not difficult than before since their nation have too many chances to become an upstart. What’s more, because their generous that the Chinese people now get the fame of magnates and almost all the merchants of world are welcome the Chinese consumers. But these also cause a problem that the Chinese people and Chinese government must face; that the Chinese people do not well value their health, especially the second generation of the wealth people, and the Chinese wealthy people do not form their rational consumption behaviors and it has a long way to go.

      

However, as the most active economy of the world, the Chinese has contributed a lot to the growth of the world economy. And during world finance crisis, the China economy is stainable than other nation, and this is undoubted that because it’s strong purchasing power from the Chinese government at all levels and its citizens. When we evaluate the Chinese, we should take a comprehensive look at it, which is an old sense of worth and visual angle towards the eastern world.