Microblog insights

Topic 1:

Chinese buyers' appetite for luxury goods is beginning to wane because of rich customers' concerns over the country's economic downturn and the government's crackdowns on corruption and investigations into government officials' wealth, the Wall Street Journal reported. Over the past several years, China has become a critical market for luxury companies. According to Shanghai-based wealth research company The Hurun Report, China has a population of 2.7 million with net assets of more than 6 million yuan ($953,000) each. China's sales of jewelry in the first quarter increased 20 percent from a year earlier while the year-on-year growth rate in the same period of 2011 was 59 percent, statistics from analysts CLSA and the National Bureau of Statistics showed.

XIMENCHUICAIJING: A majority of the luxury goods are faked in China.

ZOUTUQINJIN: The second reason is the root cause of the problem.

WEIDITONG: Only money gained through corruption will be spent on luxury goods without any hesitation.

EVOLUTION-XIANG: Some Chinese people have traveled overseas to buy luxury goods. Is there anyone who can investigate the connections between the rise in buying luxury goods overseas and its ebb in China?

YAOYUANV: Once China begins to crack down on corruption, the sales of luxury goods will suffer a significant loss.

WODEHONGLANJIQING: One sentence makes it clear - who the main buyers of luxury goods are in China.

FUDESHUANGXIU: I think the first reason is more realistic than the second one.

KAFEICHONG: The battle against corruption has always been ongoing in China but has never produced any substantial result.

Topic 2:

China has the second-largest number of companies on the 2012 Fortune Global 500 list of the world's biggest enterprises by measure of revenue. Seventy companies on the Chinese mainland entered the list this year. Most are energy and financial giants. The revenue generated by the 70 companies reached $3.8 trillion, accounting for 13 percent of the total revenue of the 500 companies. The profit rate of most domestic enterprises is lower than the average level of foreign companies in the same industry, while the banking industry in China performs a great deal better than that of other countries in the world.

LINGXIAOLANG: China's banks are so powerful.

LETIANDELETIANBA: This is why so many people are striving for jobs in the banking and finance industries.

PANGHUANGDESNIPER: The automobile industry's profit margin is so small so how can we make a living as a worker in the sector?

FENGCHUANTANGMIAN: All I want to say is just one sentence: The banking industry's high profits don't mean that its employees are also making money.

ZHANGZHENEN: Banking's high profit margin in our country makes it necessary for us to consider this question: At what level should the banking's profit margin be kept in order to make it appropriate?

KIDSHEART: The comparison is very interesting. There is a lot to study on the list.

SHANGHAIAUGUSTUS: The 70 companies on the Chinese mainland that are on the list are big in size but their profitability is not good.

SKYLAODA: The banking industry has contributed a lot to the country's economy. I hope that it can continue to be strong enough to support China's economy.

All the information is from Sina Weibo.