China's consumer spending trends have seen a positive upturn as consumer spending contributed 83.2 percent to economic growth during the first three quarters of 2023, the Guangming Daily reported. This surge in consumer activity marks an improvement in spending patterns, which have become more rationa...
China's consumer spending trends have seen a positive upturn as consumer spending contributed 83.2 percent to economic growth during the first three quarters of 2023, the Guangming Daily reported. This surge in consumer activity marks an improvement in spending patterns, which have become more rationa...
China, the world’s second-largest economy, has lately been a focal point of global economic discussions, particularly in the context of consumer spending. As of August 2023, consumer spending in China has shown signs of recovery after a tepid July, with marked increases in sales across various...
China's consumer spending trends have seen a positive upturn as consumer spending contributed 83.2 percent to economic growth during the first three quarters of 2023, the Guangming Daily reported. This surge in consumer activity marks an improvement in spending patterns, which have become more ...
Among various factors propelling growth, consumer spending is playing an increasingly important role, accounting for 83.2 percent of economic growth in the first three quarters, according to data from the National Bureau of Statistics. Latest figures also show that China's total retail sales of consu...
A 5 percent decline in exports in 2023, zero growth in fixed asset investment by privately-owned companies, and double-digit youth unemployment are other key factors driving a reduction consumer spending and investment. Exhibit 1 Chinese consumers show promising signs ...
Top skincare brands on Tmall, for instance, reported lower ASPs during 2023’s Double Eleven compared to the previous year, a pattern that is evident in other categories. Widening performance gap between the winners and the losers Our analysis of 80 leading, publicly-listed consumer companies ...
Wang Yiming, vice-chairman of the China Center for International Economic Exchanges, said consumer spending is poised to further expand this year, building on the post-COVID rebound in 2023. In the first three quarters of last year, ...
The country's consumption growth is expected to improve significantly in 2023. China's consumer spending will grow 8 percent to 12 percent, the total retail sales of consumer goods will increase 7 percent to 11 percent in 2023, said Wu Chaoming. ...
Overall, the report notes that the outlook is promising for the luxury market in China. Year-on-year, Chinese consumer spending in the sector is expected to grow a robust 15 to 20 percent in 2023 to RMB550 billion (US $77 billion). Some 80 percent of that spending will be domestic, ...