This article highlights Western China as a "fast-emerging powerhouse" in the global retail market, thanks to growing spending power of its middle class, support of the local administration, and central government's drive to develop the area. Its Chengdu landmark International Finance Square, comprised of office, residential, hotel and shopping districts, has become the epicenter of the province’s retail, hospitality, business and socializing circles. China capital city, Chengdu , for example, with 15 million residents and home to 268 Fortune 500 companies, is often referred to as the " first luxury city" in China . Louis Vuitton , general manager of IFS holdings, the group behind the region's well-recognised IFS mall, said western Chinese cities are attractive as the luxury goods market is less saturated than in first -tier cities but spending power is still strong: "We believe these places will keep growing, and there is always more room for luxury".
This article highlights Western China as a "fast-emerging powerhouse" in the global retail market, thanks to growing spending power of its middle class, support of the local administration, and central government's drive to develop the area. China capital city, Chengdu , for example, with 15 million residents and home to 268 Fortune 500 companies, is often referred to as the " first luxury city" in China . Louis Vuitton , general manager of IFS holdings, the group behind the region's well-recognised IFS mall, said western Chinese cities are attractive as the luxury goods market is less saturated than in first -tier cities but spending power is still strong: "We believe these places will keep growing, and there is always more room for luxury".