CLSA, a securities brokerage firm, released a research report in May 9th that wealthy Chinese continue to spend 1/4 of their family budget on luxury goods.

Yu Yale, director of the consumer and gaming industry research division of CLSA, Asia, said that by 2015, 1 billion Chinese and Indian people will become middle class.

Demand is increasing.

CLSA, a securities brokerage firm, released a research report yesterday that wealthy Chinese continue to spend 1/4 of their family budget on luxury goods.

Chinese people consume Gucci and Prada accounts for 1/3 of global sales.

Chinese buy 40%

According to the report, although some industry observers predict that China's economic growth rate will slow this year, China will still lead the global luxury consumption in the next 5 to 10 years.

In addition, the report points out that about 30%

Consumer behavior occurs in consumer travel.

In France's luxury sales this year, Chinese consumption accounts for 40%, while Chinese consumption Gucci and Prada account for 1/3 of global sales.

"In fact, Asians have very strong purchasing power," said Gil, chief executive of the CLSA Asia region. "80% of the Asians mentioned here are Chinese.

20 years ago, the Japanese were the main buyers of luxury goods in Asia, and now they are Chinese.

Half of global luxury consumption comes from emerging markets.

CLSA forecasts that as of 2015, the accumulated wealth of China's high net worth (higher net assets) will increase from $2 trillion and 627 billion in 2010 to $8 trillion and 764 billion, with a compound annual growth rate of 27%.

According to the latest survey data from the relevant agencies, China's high net worth population now reaches 2 million 700 thousand, of which the total number of people in Beijing is the largest and the population with high net worth is about 460 thousand.

Yu Yale, director of the consumer and gaming industry research division of CLSA Asia, said that by 2015, 1 billion of the Chinese mainland and Indians will become middle class, and their demand for luxury goods will increase.

About 50% of the global luxury market is coming from emerging markets and is expected to expand to 73% by 2020.

The income of the middle class in China has not been greatly reduced, and the consumption pattern structure of the middle class has not changed.

Chinese consumers are still spending a lot of money on watches, luxury bags, jewellery and expensive clothes.

"Rich people will not slow down in spending money."

CLSA analyst Aaron Fisher said.

CLSA was founded in 1986 and is headquartered in Hongkong. It is an European financial institution, mainly engaged in securities brokerage, investment banking and private investment business in the Asia Pacific region.