China

The Chinese consumer market is projected to more than double over 2020-2040 and remain the second largest globally, supported by steadily rising household disposable income, increasing labour market flexibility, and a burgeoning middle class. ...

Consumption is predicted to take some time to recover...

The restaurants and bars industry continued to see its turnover growth accelerate in 2019, owing to favourable consumer disposable income development, an expanding middle class, ongoing urbanisation trends and a continued preference for dining out. ...

The industry continued to witness rapid expansion in 2019. The positive performance of the industry was influenced by strong private consumption, despite rising economic uncertainty. Continued growth in household incomes and the rapid expansion of ...

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In 2019, China’s government continued to see an increase in revenue, but at a slightly slower rate. Personal and business tax cuts, introduced in 2018, which were intended to spur the slowing economy, reduced public tax revenue. The tax reduction ...

In 2019, healthcare and social services in China continued to grow at a fast pace, supported by rising household incomes, a rapidly ageing population, and growing public funding. Moreover, the industry continued to benefit from ongoing healthcare ...

The education industry witnessed double-digit growth in 2019, driven by rising government spending. According to the Ministry of Education, the country continued to implement the 13th Five-Year Plan for Education 2016-2020, and raised education ...

China’s business services maintained stable growth in 2019, supported by increased demand and business expansion. For instance, the advertising industry continued to grow rapidly over the year, largely driven by burgeoning e-commerce and rising ...

Robust economic expansion and population growth drove solid housing construction growth in 2019. The COVID-19 outbreak and ensuing lockdown in late 2019 and early 2020 left the construction sector stagnating. Construction sites in many regions of the...

The monetary intermediation industry in China witnessed robust growth in 2019. The People’s Bank of China (PBOC) cut borrowing costs to support business activity amid slowing global economic growth and the protracted US-China trade war. Banks ...

Information and communications industry growth in China remained strong in 2019. Growth was fuelled by positive movements in the IT category, which saw an expanding consumer base and increased offerings. Chinese consumers increasingly adopted ...

In 2019, the transport and storage industry continued to expand rapidly, supported by rising domestic consumption and large-scale government initiatives, such as the Outline for Building China’s Strength in Transport of 2019 and the 13th Five-Year ...

China’s automotive industry saw growth in value terms in 2019, although the increase was largely due to rising prices, as production volumes declined. Rising economic uncertainty, restrictions on new car purchases in the largest cities and the ...

Production of household goods in China continued to perform strongly in 2019, although growth slowed from the previous year. The industry’s performance was driven by rising internal consumption, with domestic expenditure on furnishings and related ...

The hi-tech goods industry in China continued growing in 2019. Expansion was fuelled by global digitisation, resulting in strong demand for China-made electric and electronic goods. Domestically, rising Chinese disposable incomes and the country’s ...

Growth in Chinese machinery production decelerated in 2019. The industry was negatively affected by weakening exports, amid the continuing trade war between the US and China. In mid-2019, the US imposed 25% import tariffs on numerous goods from ...

The Chinese pharmaceuticals and medical equipment market maintained an impressive growth rate in 2019. Due to the wide reach of the national bulk buying programme, domestic players managed to overcome foreign competitors and secure ground-breaking ...

In 2019, the Chinese food, beverage and tobacco industry registered sizable revenue growth, thanks to solid B2B demand. During the year, restaurants and bars industry saw rapid revenue growth, thanks to rising numbers of young professionals who ...

In 2019, growth in China’s forestry, wood and paper industry accelerated considerably, due to rising demand from the domestic construction sector. During the year, significant investment by the central government in the country’s infrastructure, and ...