Executive summary 3
China’s consumer: A myriad of groups, drivers, and opportunities 4
We see mass market as the biggest structural opportunity 13
Capturing the theme with our top Buy-rated mass market ideas 21
Appendix I: Defining the four key groups of Chinese consumers 25
Appendix II: Expenditure premium of different income groups 27
Disclosure Appendix 29
The prices in the report are as of the market close of May 2, 2012, unless stated otherwise
2012-05-04_高盛高华_大众消费品市场-中国的结构性机会(摘要).pdf
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