An investor's best friend: China's booming pet market sparks international deals
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Shanghai
LI Mingjie is a pet industry investor's dream. The 23-year-old e-commerce worker spares little expense to make his pooch happy. "I'll happily splash out on my dog," Mr Li told Reuters as he walked his brown poodle Coco in Pingyang, a town on China's east coast. "She is like a child to me." He is far from alone in China these days.
The growth in the middle class, a massive move to urbanisation and other demographic changes - such as growing numbers of the elderly, and people getting married and having children later than before - have been turning this into not just a pet-owning society but also one that is prepared to lavish money on them.
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