globe retail outlook data

 

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China

After thirty years of rapid economic growth, China has made tremendous achievements in social and economic development. Along with this, the living standard of Chinese citizen has improved substantially during the period. This has opened up a lot of opportunities in the domestic consumption market, which has drawn enormous interest from retailers around the world.

Since the turn of the century, China's economic growth has notably been driven by investments. The RMB 4 trillion stimulus introduced in 2008/09 further elevated the country’s dependence on investment-driven growth. While the stimulus was effective in bringing China back to double-digit GDP growth in the short term, it has created serious issues including excessive liquidity, high inflation, mounting local government debts, redundant construction, and soaring asset prices. In view of this, the new leadership of Mr XI and LI has repeatedly advocated the need to transform the current investment-driven economy to a domestic-consumption-led economy. The central government's "New Urbanization Program" and its target to double household income by 2020 will significantly enhance household's consumption and propensity to spend. This bodes well for the growth of the domestic consumption market, which we believe will continue to grow at double-digit in the foreseeable future.

 

Opportunities in China can be summarized as below:

1. Urbanization process is a key driver of retail market

2. The rise of middle class gives a broader consumer base

3. A increasing number of international retailers tapped into China

Our Top Tip For
New Arrivals

Showing respect or "giving face" to Chinese people is important in meetings, regardless of how well the meeting is progressing!

Currency

Yuan Renminbi (RMB)
EUR €0.13
USD $0.16
GBP £0.11

Language

Mandarin
Hello: Ni-hao
Thank you: Xie-xie

International Dialing Code

+86

Time Zone

GMT +8

Cost of a Pair of Jeans

599.00 RMB

Cost of a Cup of Coffee

28.00 RMB

Cities in China

Contact Us

Rebecca Tibbott
11F Wheelock Square 1717 West Nanjing Road
Shanghai 200040 PRC
+86 21 2401 1348 | rebecca.tibbott@cbre.com