Chinese penchant for dogs and cats

An increasing share of disposable income is being spent on pets in China. According to an up-to-date survey from Euromonitor International, around 33 mio households in China currently have pet cats or dogs. The cost of looking after them amounted to CNY 7.84 bn in 2012, which is 46 per cent higher than just five years ago. Forecasters believe that the market will see growth of 64 per cent by 2017.