www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / View

China's consumers will continue to surprise the world: experts

(Xinhua) Updated: 2015-05-06 09:14

WASHINGTON - Chinese consumers will continue to increase in wealth and complexity, and fears about the country's slowing economy are overblown, experts said.

Many people who worry about economic rebalancing in China focus only on the low share of household consumption of gross domestic product (GDP) instead of getting the big picture of China's consumer story, said Jeffery Towson, a managing partner of the investment firm Towson Capital, and Jonathan Woetzel, a director in McKinsey's Shanghai office, in a recent article published on the website of McKinsey.

"Regardless of its relative percentage of GDP, China's consumption has been growing faster than just about any other country's in absolute terms," they said, adding that China's consumption grew from around $650 billion in 2000 to almost $1.4 trillion?in 2010.

Given the size of China's consumption, it would "create the largest consumer market in the world" and "have a huge impact on rebalancing," if the consumption share of GDP just rises back to 43 percent in 1995 from 34 percent in 2013, they said.

In other words, the low consumption ratio does not mean China's consumption is weak. On the contrary, China has experienced dramatic consumption growth in the past decade.

Particularly, the rising discretionary spending, which refers to money spent on non-essential purchases, made the experts more optimistic about the country's potential tremendous purchasing power.

"Chinese citizens are now moving beyond being able to only afford the basics of life, and their discretionary spending is taking off," they said, adding that Chinese people "seem to have an endless appetite for everything from entertainment to skiing to caffe lattes."

Discretionary spending in China is expected to grow more than 7 percent a year between 2010 and 2020, faster than spending on actual necessities, which are estimated to grow around 5 percent a year, according to the experts.

What's more important, China's household income is now likely above $5 trillion a year, much higher than household income of other developing economies such as Brazil and India, they said.

Household income is a more important gauge of a country's future economic performance, as "you can't have consumption without income," they added.

With GDP growth slowing while household income and consumption remain robust, there is no doubt that the consumption share of GDP in China will increase in the future.

"China has an awesome consumer story," they said. "It may be volatile. It's also somewhat unpredictable. But you just don't get a consumer story this good anywhere else."

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 超清国产粉嫩456在线免播放 | 欧美精品专区55页 | 2021国内自拍 | 91久久99| 美国毛片aaa在线播放 | 久久九九精品视频 | 最新理论三级中文在线观看 | 国产视频二区 | 日韩精品小视频 | 久久www免费人成看国产片 | 一品道一本香蕉视频 | 5x性区m免费毛片视频看看 | 国产精品亚洲精品日韩已方 | 毛片在线免费播放 | 亚洲日本aⅴ片在线观看香蕉 | 久久国产成人精品麻豆 | 色综合久久久久久888 | 欧美视频一区在线观看 | 亚洲精品人成网在线播放影院 | 日本毛片在线 | 2020夜夜操| 久久视频在线播放视频99re6 | 色多多最新地址福利地址 | 亚洲自拍另类 | 国产亚洲综合成人91精品 | 免费国产黄网站在线观看视频 | 成人在免费观看视频国产 | 久久精品视频网站 | 欧美国产成人免费观看永久视频 | 日本亚洲国产 | 秋霞手机入口二日韩区 | 日本在线免费视频 | 亚洲精品一区二区三区不卡 | 国产亚洲精品免费 | 午夜两性视频免费看 | 欧美一级专区免费大片俄罗斯 | 亚洲制服丝袜美腿亚洲一区 | 99视频在线永久免费观看 | 色综合久久88色综合天天提莫 | 国产国语在线播放视频 | 91国内精品久久久久怡红院 |