Targeted by marketers, urban professionals are buying . . .
• Retail sales in China broke RMB 4,000 billion in 2002, a growth of 8.8%.
• Thirty-eight million urban families currently can afford to spend the nearly US $12,000 required to buy a new car. More than 70% of the adults living in Beijing, Shanghai and Guangzhou (combined population of 33 million) plan to buy a car in the next five years.
• Retail growth in 2002 over what it was in 2001: — in telecommunications: 69.2% — in cars: 73% — in household appliances: 14.6%
• Sales of houses grew by 43.9% for the first seven months of 2003 compared with the same period of 2002 while car sales grew by 77.1%.
• The market for toiletries and cosmetics has passed US $3 billion and is expected to reach US $22 billion by 2013.