Appreciation of the renminbi

Appreciation of the renminbi weak U.S. dollar upscale boutiques in Los Angeles aimed at Chinese customers Here's famous quote: Do not ask the price to buy something, ask it means you can not afford it. All designer jewelry and clothing found here the most beautiful impressions per store were decorated magnificent, magnificent museums in the past, such as Chinese tourists this is fly to see where the style and architecture, few people asked about the price, buy something even more rare. But now, with the weak Chinese luxury consumer purchasing power enhancement and the dollar, these high-end mainstream Southern California businesses have begun to pay attention to attract Chinese guests DavidOrgell on Rodeo Drive is one of the oldest businesses, mainly engaged in high-end watches and jewelry, they The main customers have always been Hollywood stars. But recently they have begun to recruit Chinese speaking staff to meet the increasing number of Chinese customers. A person engaged in the watch and jewelery for many years in Southern California, said, China's rich like to buy a table, because in China the watch is a symbol of status and income and now has a long history of traditional style and brand is very popular in Europe and America, while men watch market still more powerful than the female form the market. Another high-end design and operation of self-winding mechanical watch box WolfDesigns, mainly to Raymond Weil, Corum, Movado, NeimanMarcus other watches provide specialized mechanical watch winder. They also noted that the spending power of the rich in China can not be ignored. Their table box from $ 200 to $ 1,500 range, their sales from 2000 to 3000 in 1999 rose to 90,000 last year, much of which comes from the Chinese market. They also opened a branch in China, Hong Kong and China signed a contract a factory specializing in the production of their products to industry insiders, because the Chinese appreciation of luxury watches tariffs and the renminbi, China's rich are more willing to purchase luxury watches to the United States. World Luxury Association reported that in 2007 amounted to $ 8 billion Chinese people in the jewelry, clothing, leather goods, perfumes and other luxury goods consumption, second only to Japan, the world's second-largest consumer of luxury goods. According to the Swiss Watch Industry statistics, Swiss watch exports to China from 2005 to 2007 grew by 31%, an increase from 50 million to 66 million. (Wu Jian)