Summary of The Chinese Consumer in 2030

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Investment and exports, long-standing drivers of the Chinese economy, are receding in relative importance. Picking up the slack is the Chinese consumer, whose spending looks to grow at an annual rate of 5.5%, adjusted for inflation, in the period to 2030. The inexorable shift of hundreds of millions of Chinese into the middle and upper-middle classes will present opportunities for firms looking to gain market share, but it also will pose challenges. getAbstract recommends this incisive report from the Economist Intelligence Unit to executives and investors for its cogent analysis and depth of research.

About the Author

The Economist Intelligence Unit is an independent research and analysis organization.

 

Summary

Chinese consumer spending is on the rise, marking a bright spot in an economy otherwise struggling with exports and investment. Continued wage increases, the advent of e-commerce and growing customer sophistication are fueling this trend. Its impact on the Chinese economy in the longer term will be significant: Private consumption will account for 47.4% of nominal GDP by 2030, compared to 38% in 2015.

At present, China’s consumer base consists of four levels, according to annual disposable income: “low-income,” earning less than 13,000 yuan [about $1,900]; “lower middle-income...


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