Fergus Naughton

Senior Analyst, China Research
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China Monitor: Chinese New Year sales weaken but interesting outliers emerge

Overview

Retail sales over the Chinese New Year (CNY) holiday marked a further decline in growth as more consumers cut back on lavish spending on gifts and banqueting. This extends last year’s purse-tighttening as Beijing’s on-going campaign against graft and corruption claims more scalps (see our January 12 note How to read China’s strongman and 2 March blog Attack on tigers moves ahead). But, while gift-giving inside China may be down, the number of those flying off to sunnier climes...

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