Last year, Chinese cardholders led the growth of tourist spending in Australia, with a 11.6% increase in spending compared to 2011. According to retailinasia.com Australia becomes fourth highest inbound source market after the United Kingdom, United States and New Zeeland. On the other hand, when it comes to shopping abroad, Europe gains the heart and the wallets of the wealthy Chinese consumers. The products purchased by Chinese customers are heavily Europe-centric, a good reason for countries such as Italy, Germany and France to attract travelers. According to Hurun Reports cited by jingdaily.com, gifting is still the main reason for Chinese luxury shopping, and the two main gifts for men are watches and red wine, where countries such as Switzerland and France have a major advantage.

Source: retailinasia.com

85% of the enterprises in China’s animation industry, estimated to be worth more than 100 billion yuan, have suffered losses amid dwindling production of made-for-television animated films, according to wantchinatimes.com citing Guangzhou’s Southern Metropolis Daily. Television animation productions are expected to decrease from 3,716 hours in 2012 to 2,500 hours this year. This is a result of the measures put in place by the government that prioritize high-quality made-for-television films. More than two-thirds of China’s provinces have introduced policies to support the development of the animation industry, through subsidies, tax rebates and exemptions. Still several companies are expected to withdraw from the animation market this year.

Source: wantinchinatimes.com