Fergus Naughton

Senior Analyst, China Research
+86 10 5960 3315

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Recent China research

* China Watch: Strong global growth a tailwind for China's deleveraging, Michelle Lam, Trey McArver, Larry Brainard, 14 Dec 2017
* China Watch: Outlook for 2018, Larry Brainard, Trey McArver, Michelle Lam, 7 Dec 2017
* China Perspective: North Korea scores, US stuck, Jonathan Fenby, 1 Dec 2017
* China Watch: The profit cycle – still some way to go, Michelle Lam, Trey McArver, Larry Brainard, 30 Nov 2017
* China Watch: China’s road to an automotive superpower, Michelle Lam, Trey McArver, Larry Brainard, Kingsmill Bond, 23 Nov 2017

See all our China research >>

China’s retailers adapt to changing market conditions

Overview

Investor focus turns cyclically to China’s consumer retail sector as a defensive play when domestic economic growth forecasts become less clear. Total growth in consumer sales has been sliding along with the slowing economy, as reflected in the disappointing net profit figures for many retailers in H1/13 and Q3/13. Some international supermarket chains are readjusting their Mainland strategy, while others are quitting the market altogether. Meanwhile, home-grown firms are taking...

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