Posts tagged ‘chinese new year’

14/02/2014

Chinese luxury spending drops 19% during festival[1]- Chinadaily.com.cn

Chinese people spent $6.9 billion overseas on luxury goods during the Spring Festival holiday (Jan 31 – Feb 6), a drop of 18.8 percent from last year, according to World Luxury Association.

Austerity drive among factors taking toll on luxury market

Luxury outlets lure Chinese at Lunar New Year

And domestic sales of luxury goods were only $350 million, a 57.8-percent drop from 2013 and 80 percent drop from 2012.

The European area tops the destinations by receiving nearly $3.6 billion of total overseas spending during the festival.

Meanwhile the domestic luxury goods consumption also saw a sharp drop in five major cities (Beijing, Shanghai, Guangzhou, Shenzhen and Chonagqing), standing at $350 milion, down 57.8 percent from the same period of last year and 80 percent from 2012.

Insiders said the results were due to the Chinese central government‘s cracking down on corruption, which led to dramatic decrease in government-paid junkets and officials accepting gifts.

via Chinese luxury spending drops 19% during festival[1]- Chinadaily.com.cn.

Enhanced by Zemanta
05/02/2014

China’s New Year market booms, luxury gift sales down – Xinhua | English.news.cn

China\’s consumer market boomed during the first days of the Lunar New Year holiday despite falling luxury gift sales, according to the Ministry of Commerce (MOC) on Wednesday.

In the first four days of the week-long Spring Festival holiday, the most important traditional holiday in China, consumer market sales expanded steadily and quickly, the MOC said in a statement on its website.

Without giving nationwide figures, the MOC said consumer market sales in the cities of Beijing and Chengdu had risen by 9.2 percent and 13 percent year on year respectively. According to the MOC, sales in Shaanxi, Anhui and Henan provinces grew by 14.3 percent, 11.2 percent and 10.4 percent respectively.

Online business and the catering, tourism and entertainment sectors have also prospered during the holiday, according to the MOC.

China\’s consumer market has boomed in spite of falling sales of luxury goods purchased as new year gifts, according to the MOC.

Sales of luxury gifts such as expensive alcoholic beverages and rare seafood, which are sometimes sent as gifts to officials during the holiday, have fallen sharply. Experts have viewed the drop as a direct result of the central government\’s anti-graft and frugality campaign.

via China’s New Year market booms, luxury gift sales down – Xinhua | English.news.cn.

Enhanced by Zemanta
31/01/2014

The motorcycle migration: The Chinese shunning public transport in quest to get home for Lunar New Year | South China Morning Post

The thrum of motorcycles echoes over a Chinese mountain road, where hundreds of thousands are shunning public transport to take the highway home during the world\’s largest annual human migration.

China\’s 245 million migrant workers – twice the entire population of Japan – generally have to travel on jam-packed trains or buses to get to their hometown to see their families for the Lunar New Year.

But this year more than 600,000 are expected to ride by motorcycle, according to state-run media, making gruelling journeys of several hundred kilometres for the country\’s biggest festival, while a hardened few are even cycling.

\”I\’m excited, I want to get back home as soon as possible,\” said Mo Renshuang, a shoe factory worker who stopped to stretch his legs at a rest stop several hours into his 700 kilometre (430 mile) trip.He was heading from Guangdong, one of China\’s richest provinces, to Guangxi – one of its poorest regions.

via The motorcycle migration: The Chinese shunning public transport in quest to get home for Lunar New Year | South China Morning Post.

Enhanced by Zemanta
31/01/2014

China’s Xi Jinping calls for less pollution in year of the horse – FT.com

The Mongolian steppes was where Chinese president Xi Jinping offered his televised New Year’s greeting as Chinese people worldwide celebrated the year of the horse with fireworks and feasting.

While the content of his message varied little from previous years, the choice of setting shed light on the great strains confronting today’s China.

And this year, the message was pollution.

The lunar new year, which began on Friday, is the main holiday in the Chinese calendar. Far-flung families, gathered for holiday meals, inevitably tune to state television, which this year emphasised Mr Xi’s theme of a “Chinese dream” and urged viewers to lay off on fireworks in order to reduce pollution.

Urging “continued struggle with one heart and mind” and prosperity for the motherland, Mr Xi did not address specific policies directly. But Chinese leaders’ New Year’s visits often coincide with priorities for the year ahead, including visits to coal miners, Aids patients and impoverished country villages.

This year the wide-open grasslands framed behind Xi’s dark winter coat and black fur hat are a fitting symbol for the country’s new focus on pollution, which clashes with its enormous appetite for coal.

The herders applauding Mr Xi in the freezing wind at Xilin Gol, Inner Mongolia, have been on the receiving end of a black gold rush, as state-backed mining companies from richer provinces rip up the grasslands in search of coal.

China’s leadership is now trying to reduce coal pollution in wealthier cities, but renewed plans for coal development in the north and west could cause new stresses in arid and ethnically distinct areas like Xilin Gol.

via China’s Xi Jinping calls for less pollution in year of the horse – FT.com.

Enhanced by Zemanta
24/01/2014

China retrieves $1.6 billion for migrant workers ahead of Lunar New Year | Reuters

China has recovered more than 10 billion yuan ($1.65 billion) of unpaid wages for its migrant workers in the last two months, officials said on Friday, underscoring a persistent problem that often leaves workers empty-handed before a key annual holiday.

Migrant construction workers gamble with cards after a shift at a construction site in Shanghai August 12, 2013. REUTERS/Aly Song

Many migrants only return home once a year for the lunar new year, which falls on January 31 this year. Gift-giving, including cash in red envelopes, is an important tradition, and theft spikes each year in the run-up to the holiday.

The campaign returned 10.9 billion yuan in unpaid wages to more than 1.5 million workers across China, Li Zhong, spokesman of the Ministry of Human Resources and Social Security, told a news conference.

via China retrieves $1.6 billion for migrant workers ahead of Lunar New Year | Reuters.

Enhanced by Zemanta
02/01/2014

BBC News – How Auld Lang Syne stormed China

Another intriguing cross-cultural anomaly is the British comedy film “Dinner for One” made in the days of black and white movies. It is a New Year’s Eve must for German TV watchers and also enjoyed by Dutch and many Nordic countries. See – http://en.wikipedia.org/wiki/Dinner_for_One and watch ithttp://www.youtube.com/watch?v=6lzQxjGL9S0

The film concludes with a catchphrase all Germans know and sometimes use when appropriate: “The same procedure next year?  The same procedure every year.”

One significant difference is that whereas Auld Lang Syne is still popular in the land of its birth (Scotland and UK), Dinner for One is – sadly – largely unknown in Britain.

“Auld Lang Syne is the simple Scottish folk song that has stormed the world. To mark the New Year, the unmistakable strains of Auld Lang Syne will be heard around the globe. The song, written by the Scottish poet Robert Burns, is a firm favourite in the English-speaking world. But perhaps less well-known is its huge popularity in China. The song is known as You Yi Di Jiu Tian Chang or Friendship Forever and Ever.

Revellers celebrate the new year following a count-down event at the Summer Palace in Beijing on 1 January 2013

Most Chinese people could probably hum the tune and sing a few lines of it in Mandarin, but very few are able to sing the whole song. And even fewer have any idea about the song\’s origins.

The song is frequently played at school and university graduations, other formal gatherings, as well as parties. But as for the Chinese New Year, Auld Lang Syne, rarely gets a look in. The Chinese have their song to mark the occasion – Nan Wang Jin Xiao (Unforgettable Tonight).

But how on earth did the Scottish song catch on in the most populous nation on the planet?

A large part of the reason appears to be the Hollywood movie, Waterloo Bridge, made in 1940. It was a love story set amid war. During one beautiful scene in Waterloo Bridge, the two stars of the film dance to Auld Lang Syne.

The film was hugely popular in China at the end of the Second World War. It was then revived in the 1980s when the film was dubbed for a Chinese audience and widely played in the cinemas. For an older generation, it is considered a classic.

It\’s believed that because of the film, Auld Lang Syne is now widely taught in Chinese primary schools and high schools.

While the lyrics may be different here, the tune and the sentiment of the song remain very much the same.”

via BBC News – How Auld Lang Syne stormed China.

Enhanced by Zemanta
28/12/2013

China’s railways mileage tops 100,000 km – Xinhua | English.news.cn

China\’s railways network topped 100,000 km in total mileage on Saturday, as several new high-speed rail links started operations ahead of one of the busiest travel seasons next month.

The newly opened links include the Xiamen-Shenzhen railway, Xi\’an-Baoji railway, Chongqing-Lichuan railway, and others in southwest China\’s Guangxi Zhuang Autonomous Region and have a combined mileage of 2,000 km.

Of the 100,000 km of track, more than 10,000 km are highspeed, said Hu Yadong, vice general manager of the China Railway Corporation.

The expanded railways network increases passenger capacity during the 40-day spring travel peak, which starts on Jan. 16, by 7.9 percent, said Yang Chuantang, minister of transport.

Yang forecast that 257 million trips will be made on the railways during the period, as people go home to their families for Spring Festival on Jan. 31.

A total of 2,667 pairs of trains will be operating before the Spring Festival, an increase of 157 from last year.

Total trips during the period will break a new record by reaching 3.62 billion, including waterways, roads, railways, and air routes.

China\’s first railway was built in 1876 in Shanghai and first independent railway was constructed in 1881 in Tangshan in north China\’s Hebei Province. When new China was founded in 1949, there were less than 22,000 km of lines and but only half of that was serviceable.

According to the national railway network plan, highspeed rails will reach 19,000 km by 2015. By 2020, the total railway mileage will top 120,000 km.

via China’s railways mileage tops 100,000 km – Xinhua | English.news.cn.

01/12/2013

For Cognac Makers, the Chinese Party is Over – Businessweek

French cognac makers won’t be toasting the Chinese New Year. After several years of double-digit growth, cognac sales in China have tanked as President Xi Jinping clamps down on conspicuous consumption.

Shares in Rémy Cointreau (RCO:FP), maker of Rémy Martin cognac, plunged nearly 10 percent on Nov. 26 after the company said it expected a “substantial double-digit decline” in profits because of weak Chinese sales.

The Chinese New Year, which falls on Jan. 31 in 2014, ordinarily would bring a sales windfall, with Communist Party leaders hosting cognac-soaked banquets and giving each other bottles costing $200 and up. But, Rémy Chief Executive Officer Frédéric Pflanz told Bloomberg Television, “We don’t necessarily expect a bettering of the situation” for the next few months. Chinese distributors are sitting on large, unsold stocks and aren’t placing new orders, he said.

via For Cognac Makers, the Chinese Party is Over – Businessweek.

26/11/2013

Sales of postcards drop amid push for austerity |Politics |chinadaily.com.cn

Printers claim SOEs scrapping orders of gifts

Companies making calendars and greeting cards say they have seen a huge drop in orders after the Party\’s top discipline body banned officials spending public money on their products.

The Central Commission for Discipline Inspection announced the ban on Oct 31, forbidding Party organs, government departments, State-owned enterprises and public institutions from buying, printing, mailing and handing out New Year cards, postcards and calendars.

The move was seen as the latest attempt to promote frugality and curb extravagance among officials.

In recent years, local governments and institutions have bought, printed and given away a large number of cards and calendars at the Spring Festival holiday, the commission said, adding that as the materials have become more luxurious, the waste in public funds has become more serious.

On Oct 14, the State-owned Assets Supervision and Administration Commission issued a notice saying the authority will strengthen supervision and inspection as well as strictly prohibit State-owned enterprises from buying, printing, mailing and giving away New Year cards.

While figures on the amount of public money spent on greeting cards, postcards and calendars every year are unavailable, a county official in Jiangxi province, who gave only her surname, Li, said her government purchases 40,000 New Year cards or postcards every year for about 5 yuan (80 cents) each.

While civil servants can each get 10 cards, some officials may ask for more than 150, she said.

\”Some cards are sent in the name of individuals, some are sent in the name of departments to higher level governments or officials,\” Li added.

Xinhua News Agency also quoted another county official in Central China as saying, \”the money used (in his county) to buy cards is more than 300,000 yuan, equivalent to the money needed to build a Hope Primary School\”.

There are more than 2,800 county-level administrative regions and more than 300 city-level administrative regions in China, as well as thousands of State-owned enterprises and public institutions.

The Bank of China\’s Zhejiang branch has scrapped a plan to purchase 73,900 wall calendars, 52,600 desk calendars and 26,000 postcards, Xinhua reported.

The ban, however, is potentially a disaster for companies that make postcards and calendars.

via Sales of postcards drop amid push for austerity |Politics |chinadaily.com.cn.

25/05/2013

* Restraint is the new red in China

The message for restraint and austerity flies in the face of the need to rebalance the economy from a manufacturing/export led one to a consumer led one.

LA Times: “President Xi Jinping is pressing the Communist Party’s elite to cut back on lavish living amid growing public resentment. The economic effect is far-reaching.

Men pass a billboard outside a mall in Beijing this month.

BEIJING — Exports of elegant Swiss watches to China have plunged. Sales of Mercedes-Benz and other premium sedans are slowing. And high-end restaurants, coming off their worst Chinese New Year festival in years, are starting to change their menus to lure ordinary families.

At a Montblanc shop in downtown Beijing, sales clerks recall the days when they rang up as many as 10 of the top-selling fountain pens every day. And never mind the $1,400 price tag: The platinum-plated pen capped with a half-carat diamond was a particular favorite. Nowadays the store sells one such pen every two to three days, said a saleswoman surnamed Ren, adding sadly that her pay is commission-based.”

via Restraint is the new red in China – Los Angeles Times.

See also: https://chindia-alert.org/2013/04/19/chinas-growth-the-making-of-an-economic-superpower-dr-linda-yueh/

Law of Unintended Consequences

continuously updated blog about China & India

ChiaHou's Book Reviews

continuously updated blog about China & India

What's wrong with the world; and its economy

continuously updated blog about China & India