Chinese youth snub foreign brands in favor of 'China chic'

SHANGHAI -- During last month's 618 shopping festival, China's No. 2 e-retailer JD.com observed an unusual pattern amid its record 343.8 billion yuan ($53.1 billion) in sales.

Of the 236 brands that drew more than 100 million yuan in sales during the midyear event, over 70% were Chinese, the company said. Luxury products in particular enjoyed a boost from affluent shoppers looking local.