Consumer Services on the Rise

Related entries: Consumer Market, Economy, General, Services

We know all about Chinese people buying mobile phones (see here), but it seems that more are also spending their money on services. China Daily reports that:

    • “Beijing residents spent one-third of their income on cultural and recreational activities in 2005, up 8 per cent over 2004, according to statistics from the Beijing Municipal Statistics Bureau.”

    • “Beijingers will spend 3 billion yuan (US$370 million) on weddings alone.”

    • “According to Shanghai Media and Entertainment Group, revenues produced by the city’s entertainment sector reached 4.8 billion yuan (US$600 million) in 2005, up 30 per cent from 2004.”

    • “In Guangzhou, a survey conducted by Guangzhou Urban Survey and Research Centre showed the average urban family spent 5,067 yuan (US$634) “buying different kinds of services” last year…The figure represented at least 10 per cent growth from a year ago. It also accounted for more than 35 per cent of the family’s total annual income in 2005, compared with less than 10 per cent in 2000.”

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2 Responses to “Consumer Services on the Rise”

  1. Archive » Chinese Consumer Wealth| China Business Blog Says:

    […] , urban elite now represent an important market for branded and luxury consumers goods and services. One report notes a Goldman Sachs estimate that in 2005: “China’s purchase of […]

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    […] , Research, Consumer Market luxury consumers goods and services. One report notes a Goldman Sachs estimate that in 2005: “China’s pu […]

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