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Companies cash in on Asia's holiday shopping sprees

Chinese consumers carrying many shopping bags, like those at Shanjing Outlet Plaza in Ningbo, Zhejiang Province, are a fixture during the country's New Year holiday season.

TOKYO/MUMBAI/JAKARTA -- Due to its cultural and religious diversity, Asia has many major holiday and festival seasons. And as the region's incomes rise, so too does its holiday spending, creating a wealth of opportunities for businesses.

     The Lunar New Year, celebrated in countries like China and Vietnam, is not the only important holiday season in Asia. Indonesia has Ramadan, while India celebrates a major Hindu festival in autumn. These holidays and festivals are often the biggest shopping seasons in the countries where they are celebrated.

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