"Wangfujing gave me the first impression of Beijing when I arrived in the city last August. People were shopping with great zest in Wangfujing for clothes each costing several hundred yuan. This reminded me of a news report saying China is full of millionaires now."
A female Mexican poet and writer teaching in the Spanish Department of the Beijing Foreign Studies University told the journalist her impression of China during an interview with Global Times several days ago.
She said "Chinese consumers are astonishingly strong in purchase power. In the past, I spent nearly all my savings on books and travel and did not care about dress. Influenced by people around me, I go shopping for shoes and clothing frequently since my arrival in China and find the temptation of shopping too hard to resist. I eat out once everyday. There are many college and middle school students having dinner in the restaurants nearby schools. The lack of personal income does not prevent these young people from eating out."
"Even an outsider like me can realize the great business opportunity in the Chinese market, let alone business people. Many brand names have declined in other countries, but are on the upswing in China. For example, famous brands such as Playboy and Pierre Cardin have lost their market in Mexico, but they have counters in almost every shopping mall in China."
Are Chinese astonishingly strong in purchase power? China is full of millionaires? The fact is not so. Not fact but bad habits and trends of consumption formed during the years gave foreigners the false impression of Chinese. Some Chinese consumers prefer top-grade and famous brands as well as imported commodities. Despite limited income, they follow and keep up with Joneses instead of buying things according to their actual purchase power. Most of them hold the principle that "using tomorrow's money to handle today's business." This bad habit resulted in the endless emergence of urban residents who spend more than they can earn and attach greater importance to pleasure seeking than to books, further study and travel.
(Chinanews.cn July 12, 2005)
