Too much income difference directly leads to the excessive consumption of a small number of people and the lack of consumption of most people.

CPPCC members believe that only by making the majority of the people rich, they will consume and stimulate economic growth.

The current "two generation" problem and the luxury consumption issue have become a social problem.

The "second of the world", earned by a small number of people's "conspicuous consumption", is contrary to "getting rich after taking advantage of the rich", narrowing the gap between income distribution and promoting social harmony and progress.

No matter government departments or social individuals,

Waste is incompatible with the spirit of arduous struggle and runs counter to building a resource-saving society.

CPPCC members urged that relevant laws and regulations should be issued as soon as possible to curb wasteful consumption and wasteful consumption of public funds, and advocate a civilized, economical, green and low carbon consumption mode.

Now, China's luxury consumption is leading the sale of global luxury goods. Since the first time we published the report on luxury goods in China, over the past three years, in China's domestic and overseas markets, the amount of luxury purchases of Chinese consumers has increased from 10% of the total sales revenue of luxury goods industry to 25%, exceeding the expectations of any luxury goods manufacturer.

Now, luxury goods in China.

In the past three years, in China's domestic and overseas markets, the amount of luxuries purchased by Chinese consumers has increased from 10% of the total sales revenue of luxury goods industry to 25%, exceeding the expectations of any luxury goods manufacturer.

Chinese consumers are increasingly demanding, and they spend more than half of their luxury consumption abroad, putting pressure on luxury Brand Company operating in mainland China.

Some of the international luxury goods operated in mainland China.

Although the prospect of the company may be affected by the above factors, we give Prada (Prada), Coach and Hendry stock "overweight" rating, mainly because the basic factors are good and business has room for growth.

Prada has strong basic factors and its valuation is too high. But with the increase of market share and so on, we have raised the pre tax profit forecast of Prada from 2013 to 2014, reflecting that its higher sales and new stores do not compete with each other. The profit is highly visible and the target price is HK $70 ($11).

In terms of Coach, its share price was declared down in the fourth quarter of July, but the impact is only pient. Coach still has much room for growth in men's and Asian businesses.

As for Hendry, the clocks it distributes are only sold on the mainland, so unlike other international brands operating in the mainland, Hendry has less influence on the mainland consumers' consumption abroad, so they maintain their "overweight" rating.