BizChina

China’s no. 1 manufacturer of eReaders is writing a memorable tale of its own this year as brisk sales fuel profits and the wealth of its main owners.

Hanwang Technology, which also goes by the name Hanvon Technology, said today net profit in the first six months of the year more than quadrupled to 87 million yuan, or $12.8 million, from 21 million yuan a year earlier. Sales climbed to 674.4 million yuan from 176 million yuan.

Wits Basin Precious Minerals Inc. (OTCBB:WITM) (the "Company") reports that its joint venture with London Mining Plc, China Global Mining Resources (CGMR), is in the process of completing the next phase of required funding for acquisition and development for its iron ore business in the People's Republic of China (PRC).

In a mid-summer issue of Shukan Economist, a Japanese business weekly, Japan-made products on the Chinese Taobao e-commerce rankings were listed like a snapshot, giving revealing insights of Chinese consumer desires, suspicions and behavior patterns.

As the powerful Chinese economy created disposable income for larger numbers of Chinese consumers, interest in imported goods purchased online skyrocketed, especially Japanese products known for quality and workmanship. On e-commerce sites like Taobao, part of the giant Alibaba Internet B2B/B2C empire, “top ten” products are usually cheap and small in size, so the consumer benefits are easy to understand.

In order to understand the future trajectory of China’s domestic consumer market, it’s important to gain an understanding of the historical context of consumerism in China. Karl Gerth is a professor at the University of Oxford who teaches modern Chinese history with an emphasis on consumer culture. He brings a truly unique perspective combining both a deep understanding of contemporary Chinese modern history with actionable business insight for the present day and beyond.