Chinese consumer market’s rising tide cannot be turned back

In 2015, China’s Singles Day (November 11) saw the national e-commerce giant Alibaba rake in a record $14.3 billion in sales, up 60 percent from 2014; meanwhile, the total sales on Cyber Monday (the first Monday after Thanksgiving) in the U.S. was $3.1 billion (source: dpa)
In 2015, China’s Singles Day (November 11) saw the national e-commerce giant Alibaba rake in a record $14.3 billion in sales, up 60 percent from 2014; meanwhile, the total sales on Cyber Monday (the first Monday after Thanksgiving) in the U.S. was $3.1 billion (source: dpa)

Can China develop a coherent, vibrant internal market and break its dependency on large state-owned industries? The country has made substantial progress over the last 20 years, says GIS Guest Expert Professor James Woudhuysen, and despite current concerns about the stability of its economy, there are good reasons to believe it will continue to do so.

Retail sales growth in China is accelerating again after a slowdown, and over the longer term the shift in consumer tastes toward Western-style goods will continue. Domestic producers of goods and services are learning to cater to those preferences and to compete on branding and design rather than just price.

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