time interesting for the luxury market in China

Giving is crucial if you want to progress in the Chinese politics and economics, but what do you do when you do not know if your boss is about to be promoted or work from a cast? Considering the sale of certain products in the Chinese luxury shopping mall in Hong Kong, it is a mystery to face more than a few rich mainland visitors during the Golden Week holiday, which starts today. Chanel Evening Bags The break is a time of booming sales Hong Kong stores, but this year coincided with a slowdown in the Chinese economy and build Beijing's leadership transition once-in-a-decade. Congress appoints crucial that the new leadership of the Communist Party in the eighth secret Will take place in November, state media reported. Few analysts expect no surprises at the top - Vice President Xi Jinping seems certain to replace Hu Jintao - but what happens at the lower levels of the huge state apparatus in China is a mystery. Rumors swirl deep divisions within the party elite, and many analysts say that the transition of leadership turbulent since the appointment of Jiang Zemin as party leader in 1989. The proof of this uncertainty in the jewelry shops of Hong Kong, where the sale of luxury watches, barometers luxury gift market may be exposed fallen in recent months, say analysts and traders. "It's definitely a decline in sales this year of about 20 to 30 percent," said Wong, a salesman at a luxury watch store, wanted to give his full name. "It is as if the customers actually buy things fell It's a big change." Analysts believe that this drop for China's economic growth slows -. To 7.6 percent in the second quarter, the slowest since March 2009 - and a decline in overnight stays of tourists from the mainland. "If you come for a night, you probably have a bigger budget, and you have to spend even more time," HSBC economist Donna Kwok said Greater China. "Looking at the whole situation, the most important thing is that China,., For the moment, in a slowdown ' But there is also evidence, largely anecdotal in nature, at least part of the decline in certain categories of luxury goods to doubt as to who is in power could be linked to the party. Chinese consumers have. An estimated $ 49000000000 in luxury goods last year, a quarter of the global market of $ 197 billion They are ready to overtake the U.S. this year, the largest consumer of luxury goods in the world. Analysts say nearly 20 percent of Chinese luxury goods people buy presents and gifts are often used to grease the wheels of the "Guanxi", the Chinese term for the relationships that help win jobs and promotions. Exploring a little further, is a market segment gift that could serve as an indicator of informal "guanxi" watches, and logically follows that the most expensive clock receiver powerful. "The clock segment declined slightly and the clock category is useful for presents," Aaron Fischer, head of consumer research at brokerage CLSA said in Hong Kong. "In the current political climate, and a bit of fight against corruption, as well as the desire to reduce the level of conspicuous consumption, we see some of these products a little less shrill well." Hong Kong Tourism Board figures show that mainland for 30 percent growth in watches and jewelry in Hong Kong in 2010 to be sold. In the first half of this year, sales growth in this segment of the luxury market is only 2.2 percent, compared with 32 percent for the same period last year. The head of the distributor of luxury goods in Hong Kong leaders said, forced the political uncertainty, certain their gift to delay their purchases until the dust settles. He said. Products that may be affected expensive French wines, provide a supplement to the list of acceptable items to your boss, if you really want to make an impression