Report archive
04 October 2012
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Stabilisation is the wordThe Big Call
Service sector stays robust
Our surveys and grassroots research show that China’s service sector is posting robust growth this year, infusing the economy with resilience to the slowdown.
Consumer China
Cosmetics – multinationals clean up in China
Leading multinationals dominate China’s $28bn cosmetics industry, and are localising and diversifying in a bid for a greater share of this increasingly lucrative market
L’Oreal – diversification key to market leadership
The French cosmetics giant’s extensive brand line-up and strong mainland production and distribution networks have enabled it to become the largest cosmetics and skincare maker in China
Estee Lauder – premium cosmetics maker focused on China
The US cosmetics maker is planning to launch its first Asia-focused brand and expects strong sales in China to support top-line growth in FY13
Shanghai Jahwa – new management driving upmarket shift
A greater contribution from higher-end cosmetics products has lifted gross margins for China’s leading domestic cosmetics maker
L’Occitane – French roots, Chinese branches
Hong Kong-listed French cosmetics maker L’Occitane plans to continue tapping into growing demand for natural beauty products in mainland China
Shiseido – hit by anti-Japanese protests
Recent anti-Japanese protests have seen a marked decline in popularity for cosmetics maker Shiseido in China according to our recent survey, but we expect the impact to be temporary
Procter & Gamble – halting Olay’s decline
The world’s largest consumer goods company is attempting to appeal to younger cosmetics buyers in a bid to stem market-share loss for leading skincare brand Olay
Rural China
Rural boom ebbs as pig rearing, new loans ease
Low pig prices, muted rural lending growth and slow tractor sales dragged the China Confidential Rural Wealth Creation Index down 0.8pp to 50.2 in August, but underlying strength in the rural economy remains intact
Financial China
China’s triangular debt problems mount
A surge in accounts receivable has resulted in rapid overdue loan growth, pointing to a pile-up of triangular debts among both state and private firms that could cause considerable damage to the banking system
Capital Intensive China
Risky road to diversification for real estate developers
Developers are branching out into holiday homes and retirement communities, but while both sectors offer short-term profits, they also present significant but different risks
Forbidden City
Bargains and compromise in run up to congress
With the 18th Party congress set to get underway in November, the most likely outcome is a compromise on policies and personnel between rival groups
Best of Chinese Commentators
The implications of Bo Xilai’s trial
Leading commentators discuss the issues at play around former Chongqing Communist Party secretary Bo Xilai's impending trial
New five-year plan raises financial reform hopes
China’s new five-year plan for the financial sector pledges to push forward with the liberalisation of interest and exchange rates, as well as capital account convertibility
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