China Consumer Economy Growing Fast
China Consumer Economy Growing Fast

China Consumer Economy Growing Fast

China Consumer Economy Growing Fast

China’s consumer economy is expected to continue to grow fast and may increase by $1.8 trillion by 2021, according to a recent report, Xinhua reported. Even as overall economic growth eases, China’s consumer economy is benefiting from an emerging upper-middle-class and more affluent households, a younger population that is eager to spend, and e-commerce through digital channels, according to a report by Boston Consulting Group and AliResearch, the research arm of Alibaba Group. “Because of these factors, Chinese consumers on average are spending more, and they’re trading up to higher-quality products,” said Jeff Walters, partner at BCG.

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