Shoppers turned off by local market

Source:Agencies Published: 2013-8-18 22:23:01

In 2012, Chinese travelers spent $102 billion overseas, nearly double the $54 billion they shelled out in 2010, according to a recent report.

Chinese holidaymakers are gradually becoming the biggest consuming class in the world. But as overseas shopping jaunts become increasingly commonplace among newly affluent Chinese, officials and members of the public alike have criticized the country's growing preoccupation with spending abroad.

But if people could buy reasonably priced, high quality products at home, what would be the need to go shopping elsewhere? The price gap between luxury goods in China and overseas has encouraged the buying frenzy. An appreciating yuan and shortages of sought-after goods on the Chinese mainland have also done their part to discourage local consumption. Authorities should work on improving the domestic market if they want to promote spending here at home.

The author is Zhang Guodong, a media personality.

ce.cn


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