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Bottom lines of China consumer firms paint patchy picture of spending

Analysts say increased caution, sophistication will push them to innovate to fend off competitors

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Consumption contributed the bulk of China's growth last year at nearly 65 per cent, but income growth didn't pick up, and a measure of China's income inequality rose slightly last year.

Shanghai

OFFICIAL numbers may suggest a rosier 2017 for China, but the bottom lines of the country's top consumer firms - from brewers to noodle makers and cinema chains - paint a patchy picture of spending in the world's second-largest economy.

Tsingtao Brewery Co Ltd, China's No

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