Consumer Spending

Letters to the Editor, June 9, 2013

Fashion adverts tempt women to spend. Photo: Jonathan Wong

Hong Kong citizens are becoming increasingly involved in environmental issues. This is a welcome, healthy trend since if "Hong Kong is our home", as the authorities like to depict it, we have to take better care of it.

Sunday, 9 June, 2013, 9:22am

Chinese shoppers ready to go out and spend more

Almost two in five respondents to a Nielsen survey say they would increase spending, the highest level since the third quarter of 2010.

Optimism about job prospects and personal financial status helped keep confidence high among mainland consumers, who showed a greater willingness to spend in the first quarter, a survey has found.

23 May 2013 - 4:45am

Impact of Beijing's anti-sleaze campaign wildly exaggerated

Impact of Beijing's anti-sleaze campaign wildly exaggerated

Over the past couple of months, the media have been full of articles about how Beijing's latest anti-corruption campaign has dented consumer demand and even contributed to the slowdown in the mainland's overall economic growth.

23 May 2013 - 4:27am

Racking up miles on plastic

Air miles are a big part of credit card incentive schemes. Photo: AP

Air miles are a big part of credit card incentive schemes. People get points for spending, and if they manage their spending and pay their credit card bills each month, they can score a free trip to Thailand.

21 May 2013 - 6:31pm

Japan records 3.5pc growth in first quarter

Consumers are responding to the reflation drive. Photo: Bloomberg

Japan's economy expanded the most in a year in the past quarter as consumer spending and export gains outweighed the weakest business investment since the wake of the March 2011 earthquake and tsunami.

17 May 2013 - 2:48am

HKMA chief's household debt fears overblown

Let's look at some specifics here; for instance, that bit about rampant consumer spending, which so concerns Norman Chan Tak-lam, the chief executive of the Hong Kong Monetary Authority.

7 May 2013 - 3:56am 5 comments

Why the HKMA should fret over consumer debt

Credit where it's due

Only last week my esteemed colleague Jake van der Kamp was complaining that there is altogether too much consensus among the Business Post's columnists. Commentators are not meant to be a harmonious society.

Well, Jake, you've got your wish for a healthy dose of adversarial scrappiness, because today the back page is going to pick a fight with the front page.

7 May 2013 - 7:45am 7 comments

World's economies need US budget compromise

US President Barack Obama and the congress should lay antipathy aside in negotiations for renewing government funding and lifting the country's debt ceiling. Photo: AP

Barring a breakthrough like "grand bargains" of the past, Washington will implement US$85 billion in spending cuts by September and US$1.2 trillion in cuts over the next 10 years. Economists say this could trim US growth by more than 0.5 per cent this year, which is not good news for the rest of the world. Ironically, there is a bittersweet note to it, with good news on US manufacturing and consumer spending, which are key to global recovery.

4 Mar 2013 - 3:27am

Mainland Lunar New Year spending up 15 per cent

Customers scrutinise gold jewellery at a store in Xuchang, Henan province. Jewellery sales across the mainland surged 38 per cent during the Lunar New Year 'golden week'. Photo: Reuters

Ministry of Commerce figures show spending of 539 billion yuan (HK$665 billion) for the holiday period. Sales of groceries were up nearly 10 per cent, jewellery sales rose 38 per cent and garment sales rose more than 6 per cent, the ministry said.

17 Feb 2013 - 5:38am

Business Digest, February 1, 2013

German carmaker Daimler is planning to buy a 10-20 per cent stake in the passenger car unit of its Chinese partner BAIC Group.

German carmaker Daimler is planning to buy a 10-20 per cent stake in the passenger car unit of its Chinese partner BAIC Group.

1 Feb 2013 - 5:22am

City migrants help boost rural incomes

The rise in migrant labourers and their wages has helped push up rural per capita income faster than urban incomes. Photo: NYT

Rural per capita net income rose 10.7 per cent, against a 9.6 per cent increase for urban dwellers, partly because of the rise in migrant labourers and their wages, the National Bureau of Statistics said. Rural residents' income from benefits payments rose 21.9 per cent, almost double the urban pace, as the government boosted its budget for health-care handouts.

31 Jan 2013 - 5:20am

British economic growth revised down to 0.9pc in third quarter

Britain's economy expanded less than previously estimated in the third quarter and the budget deficit unexpectedly widened in November, complicating Prime Minister David Cameron's attempts to bolster the recovery. Photo: Bloomberg

Britain's economy grew by a worse than expected 0.9 per cent in the third quarter, downwardly revised data showed yesterday, sparking fresh speculation over a possible "triple dip" recession, analysts said.

22 Dec 2012 - 2:36am

Chinese shoppers 'biggest spenders on luxury goods'

Women try on shoes in Salvatore Ferragamo's London store. Chinese shoppers are the biggest spenders on luxury goods. Photo: Bloomberg

Chinese shoppers this year emerged as the biggest spenders in the global luxury market, thanks largely to their sprees in Europe and the United States.

Shoppers from the mainland, Hong Kong and Macau, accounted for a quarter of global luxury sales this year - for the first time surpassing Americans who bought a fifth of the total, according to global consultancy Bain & Company.

13 Dec 2012 - 3:34am

Ask Melanie: How to maximise pleasure without emptying your pockets

A less expensive gift now might allow for another valued treat later. Photo: AFP

Christmas and Lunar New Year are a blowout season for me: eating, drinking, presents, and an expensive pilgrimage to family overseas. My bonus has paid off overindulgence in previous years, but that and job security are shakier now. Any tips on trimming festive season edges without giving up too much on lifestyle and goodies?

10 Dec 2012 - 2:28am

Bailing out the wrong guys

High US unemployment has been exacerbated by homeowners being deeply in debt and owing more than their homes are worth. Photo: AFP

The stuttering growth of the once almighty US economy, especially the sluggish creation of new jobs, is having a profoundly depressing impact worldwide, dragging querulous Europe and even high-flying Asian economies down to earth.

28 Nov 2012 - 2:34am