China has become a huge and essential consumption market. Its enrichment brought a society of consumers where rich elites go alongside a middle class who displays its purchasing power. This population of over 350 million will continue to grow to reach 850 million by 2030. The Chinese consumers of today – and of tomorrow – will not be those of yesterday.
In a time of global economic crisis, most experts consider that domestic consumption is what stimulates the growth of China. For now, China is still the major country where consumption represents the smallest percentage of GDP, less than 50% compared to about 70% in Europe and 80% in the US, while investments represent nearly 50% of GDP vs about 15% in G8 countries, a record in economic history. This shows how much room there is for consumption to grow further.
