Wharf ready to exploit consumption upgrade

Hong Kong's conglomerate The Wharf (Holdings) Ltd will seek to cash in on consumption upgrade and the rise of middle - and high-income earners on the Chinese mainland, one of its senior executives said.

Wharf is engaged in logistics, property investment, property development and hotel management.

Christina Hau, assistant director and general manager for retail leasing and operations of the company's mainland arm Wharf China Estates Ltd, said that economic restructuring can be seen in the rising contributions of services and consumption to GDP. Strong domestic consumption has strengthened China's markets but has also brought challenges to commercial real estate firms such as Wharf.