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The Chinese consumer: To spend or to save?
New research indicates that Chinese consumers lack confidence in their financial future and are saving a quarter of their income to cover health care and retirement.Nonetheless, shopping lists for the next 12 months include big-ticket items such as flat-screen TVs, automobiles, and new homes.Consumers in towns and smaller cities—now a key battlefield for multinationals and domestic companies alike—are intensely interested in big-ticket consumer goods.
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