Boston Consulting Group

China's wealthy take 2.8tr yuan overseas - and it's expected to double

Shoppers pose for a picture in front of a Chanel luxury boutique at the IFC Mall in Shanghai. Photo: Reuters

China’s top affluent citizens sent 2.8 trillion yuan (HK$2.5 trillion) overseas in 2011, about 3 per cent of the nation's gross domestic product that year, said 

Tuesday, 12 March, 2013, 12:00pm 4 comments

Joining hands - but for how long?

The vast potential market of China's inland provinces and secondary cities is drawing multinational companies, many of which want to form joint ventures with local firms to enter these consumer markets. But industry players warn that these joint ventures run the same risks that led to the unhappy failures in the past of many multinational partnerships on the mainland.

14 Jul 2012 - 12:00am

Fashion makes a statement for middle-class buyers

The size of the mainland's fashion market is expected to triple over the next decade to 1.3 trillion yuan (HK$1.56 trillion) as younger people spend more on clothing and as spending increases in smaller cities, The Boston Consulting Group says.

16 Jul 2011 - 12:00am

Corrections & clarifications

A story on B6 yesterday - 'China moves higher in wealth league' - incorrectly reported the definition of wealthy China households used in a survey by the Boston Consulting Group. The benchmark was households with more than US$100,000 in assets.

1 Dec 2004 - 12:00am

Finance industry urged to target China's newly rich

Significant opportunities for China's financial industry are emerging with the growth of affluent households, according to a consultancy firm.

The Boston Consulting Group (BCG) says the critical mass of wealthy people in China is increasing even though the sector is still in its infancy.

19 Nov 2002 - 12:00am