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24 Feb, 2012

Chinese Housewives Spent More in 2011, Mostly on Travel & Investment

By Wang Zhuoqiong (China Daily)

BEIJING – Chinese housewives, who traditionally hold the purse strings, spent more last year, with most of the increase going into trips and investments in stocks and real estate, a report has found.

In 2011, more than 60 percent of the average household income went into consumption, six percentage points more than in 2010. Another 26 percent of income went into the bank, while 13 percent was invested in a variety of assets and financial products, said the report by the Huakun Women’s Consumption Center, a unit of Women of China magazine.