'Small-town kids' shape future of China's consumption
XINXIANG, China (April 25): The bright lights of Beijing or Shanghai have never held much allure for Wu Tongxu, a 24-year-old civil servant earning a modest salary in the nondescript city of Xinxiang in China's central Henan province.
But his lifestyle is anything but parochial.
Wu drives a 370,000 yuan (US$58,800) Cadillac sedan, owns a downtown apartment and dines out at restaurants. He can sometimes be found at rock concerts in Hong Kong or on jaunts up Mount Fuji in Japan — financed by his doting parents.
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HZ, a Rockville-based advertising agency with offices in Los Angeles, New York and Washington, announced Tuesday that it has reached an agreement to be bought by Burson, Cohn and Wolfe, a New York-based division of the global ad agency WPP.