DOGS AND CATS HAVE A 'PET ECONOMY'OF THEIR OWN

People's increasing consumption capacity will create lucrative segment markets in the pet industry, writes Wang Yiqing

Raising pets, especially dogs or cats, has been part of modern life. But in recent years, raising pets has become a stylish and cash-burning lifestyle in urban areas, which has given rise to what the media call a "pet economy".

People have been raising animals for centuries for food, and as house guards or hunting guides. But today, animals, especially pets, also serve people's emotional needs.