JP Morgan Greater China Consumer 8 JUNE 2011
16 MB

Watch staples over 2H11 and 2012, discretionary on track 4
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Valuations and Price Performance 5-6
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China Staples: Quick look at 2010 results 7-11
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Top picks among China staples 12
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Staples themes and sub sectors 13-38
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China Discretionary: Quick look at 2010 results 39-42
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China discretionary top picks: We prefer retailers and department stores 43
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Discretionary: A quick look at the sub sectors 44-53
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Company Slides 54-87
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Appendix 1: Hong Kong retail and tourism 88-89
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Appendix 2: China department stores – comparison tables 90-95
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Appendix 3: China sportswear 96-103
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Appendix 4: China discretionary trends 104-109
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Appendix 5: Discretionary 2010 results review 110-113
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Appendix 6: Strong operating leverage at discretionary 114
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Appendix 7: China staples trends 115-121
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Appendix 8: Staples Results Review 2010 122-125
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Appendix 9: Raw material price charts 126-128
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Appendix 10: China instant noodles market 129
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Appendix 11: China beverage market data 130
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Appendix 12: China beer market 131-135
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Valuations 136-137