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Business

Chinese 'daigou' purchases grow

SHANGHAI -- Chinese consumption of brand-name products via "daigou" agents is thought to have reached 55 billion to 75 billion yuan ($8.85 billion to $12 billion) in 2014, according to figures released Tuesday by U.S. management consulting firm Bain & Company.

     Daigou agents are overseas personal shoppers who buy goods and then ship them to Chinese customers placing orders over the Internet.

     Purchases in Chinese stores fell for the first time ever last year, dipping 1% from 2013 to 115 billion yuan. However, when purchases by tourists traveling abroad are included, consumption of brand-name goods rose 9%, to 380 billion yuan.

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