In my last post, I wrote about the trend in Chinese consumption being significantly upwards. Some people commented on my Facebook and LinkedIn groups that they believed China’s consumer market would be much larger if it were adjusted for the exchange rate.
Doris Gallan, an American who has lived in China for years, wrote: “The way people shop in Wenzhou, China — they are aiming to be the #1 consumer nation! There are many high-end consumer stores here and people (especially youths dress very fashionably and drive expensive cars).”
While the Chinese middle class (see my definition of the Chinese middle class) will alter the global economy in the years ahead, there are obstacles to Chinese consumers increasing their spending. Most people I talked to save 25 to 50 percent of their monthly income for a rainy day. Continue reading Opportunities in China’s Healthcare Industry
A recent study by the Economic Intelligence Unit indicates that Chinese consumers only make up 5% of the world’s $36.9 trillion consumption. However, we need to keep in mind that the Chinese consumers barely existed about a decade ago.
The trend in Chinese consumption is significantly moving upward. Retail spending has increased steadily at 15 percent and more in recent years. Chinese consumer confidence remained high even during the worldwide recession in 2008-2009. China has already become the world’s largest market for automobiles, television sets, and cell phones, and the world’s second largest market for luxury goods.
Walking on the streets of China’s bustling cities, one can easily witness prosperity and the consumer boom. Continue reading China May Become the World’s Second Largest Consumer Market
China has surpassed the United States to become the world’s largest energy user, according to Paris-based International Energy Agency. As a growing Chinese middle class demands cars and homes with modern appliances, it will continue to drive up China’s energy consumption.
Achieving greater energy efficiency has become a top priority of China’s leaders. According to China Daily, China’s state-owned State Grid Corp. plans to invest $586 million constructing smart grids that incorporate wind and solar energy, energy storage, energy transmission monitoring, intelligent substations, and smart meters.
There are plenty of opportunities for Western companies in China’s soaring clean tech industry. Continue reading China’s Smart Grid Boom
Read Helen's Column
Be a Fan on Facebook
Connect on LinkedIn
Follow Helen on Twitter
Doris Gallan, an American who has lived in China for years, wrote: “The way people shop in Wenzhou, China — they are aiming to be the #1 consumer nation! There are many high-end consumer stores here and people (especially youths dress very fashionably and drive expensive cars).”
Popular Posts