Asia times: the overseas shopping hurt the mainland of China's economy

Buss dynasty the top of the building essence property? No problem. Bond street shop in London luxury shopping? No problem. The exquisite works of art auction of a reclined at the table? No problem. China brigade of the tourists desire list without end, and their desire and wealth is a few years ago had not anticipated way of real estate, retail remodeling here and the art market.Although Chinese buyers in Britain have enjoyed any supermarket VIP treatment, but spend money like water's foreign travel was causing the domestic more and more strong objections, says this is the damage to the Chinese economy, interfere with domestic consumption growth and make the Treasury lost about $50 billion fiscal income. "Don't let foreigners hair of Chinese windfall!" China some media in an editorial in this month called for. It suggested that China should reduce the high tariffs on imported luxury, reverse capital outflows and boost domestic consumption status. And consumer spending accounts for about 60% of the U.S. GDP different, China last year personal consumption accounts for only 37% of its GDP. But for LuoXinMiao (sound) such claim to "famous brand fan" person, buy luxury goods should go to origin. "I don't believe that China's BaBaoLi and gucci," she said, "I even doubt Beijing and Shanghai brand shop, because I think that the store many goods are produced in China. And they are better than the price in London and much higher."According to the China national tourism administration introduction,wholesale sunglasses last year there were 57 million Chinese people to travel abroad, in London, Paris and milan, urban consumption as much as $48 billion. The world association of luxury that last year, consumers in foreign markets luxury goods than domestic spending is 3 times is the main reason of the huge price difference of domestic and overseas market.now China's commerce ministry officials are seriously considering lower import tariffs on luxury goods. They think will Chinese consumers in overseas consumption to $50 billion for the domestic market and promote consumption type growth, far more than tariffs on important high. But this suggestion is worried about the Treasury officials cut tariffs against.