For those of you who aren’t aware, Mainland Chinese mothers have been buying up baby milk like crazy all over the world in places like the Netherlands, New Zealand, but primarily in Hong Kong.
So ever since 習近平 (Xi, Jin-Ping)’s austerity measures came about, people have been finding creative ways to give each other “gifts“:
But what really had the scribblers’ scratching their heads was that 3 percentage points of this were uplift from the timing of the Chinese new year period.
That would tie in with other trends at play. Conspicuous consumption has been ousted by austerity under the new government of President Xi Jinping, a move that has hit Chinese sales of Scotch whisky and Cognac at Pernod Ricard, purveyor of Chivas Regal and Absolut vodka.
And baby milk is in massive demand, a hangover from 2008 when melamine-spiked milk killed six babies and left hundreds of thousands sick. Chinese parents have been distrustful of local milk ever since; more recently, they are even shunning multinational manufacturers’ milk that is made in China – giving rise to enterprising students buying up the stuff in the UK and selling it online in China.