Gap widens between China's 'old' and 'new' economies

While sales of traditional mainstays in China's fast-moving consumer goods (FMCG) industry such as instant noodles and beer fell by 12.5% and 3.6% respectively in 2015, products such as pet food and yogurt — both of which are associated with millennials' quality-of-life aspirations — posted strong sales growth of 11.7% and 20.6% respectively, according to a report by Bain & Company.

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