Friday, December 28, 2007

Chinese Online Class - Trade: Pawnshops see booming business

BIZCHINA / Biz Media Digest

Trade: Pawnshops see booming business

(Xinhua)
Updated: 2006-10-08 16:28

China's pawnbrokers were doing booming business around the National Day
holidays, as both tourists and street hawkers put up their personal
belongings to get extra cash to travel or cash in on tourism.

During the week-long National Day holiday, a manager of a pawnshop in
this capital city of east China's Jiangsu Province said his business is
up 30 percent to 40 percent.

The pawnbroker said some small business people are pawning private items
to raise capital to buy wholesale souvenirs that they sell to tourists.
Meanwhile, some tourists use pawnshops as a kind of safety deposit box
where they pawn precious items before traveling and then buy them back on
their return, said the manager who declined to be named.

(For more biz stories, please visit Industry Updates)

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