Huge Potential Spending Power China’s cities will contribute $7 Trillion to global consumer spending—30% of the total—by 2030, according to McKinsey. That is significant, even for a country as populous as China’s. The country’s largest cities—most notably Beijing, Shanghai, Guangzhou, and Shenzhen—account for an outsized portion of GDP and consumer spending.These 4 cities (referred to
The Belt and Road Initiative The Belt and Road Initiative (B&R)—commonly referred to as One Belt, One Road (OBOR)* is a China-led effort to revive—and broaden—the ancient ‘Silk Road’ trading route that stretched from China, through Central Asia and the Middle East to the Mediterranean in Europe. The goal of the initiative is to invest
In China, a country better known for its own local variety of fiery spirits–baijiu, wine has yet to become the alcoholic beverage of choice. According to recent market research, wine is still being introduced to the country, with most buyers having limited knowledge about what constitutes a good wine. Chinese consumers take other factors into
It is often said that most Internet and tech companies in China follow a single business model: C2C or “copy to China”. This involves taking a well-received web product in the West and bringing it to the mainland – making full use of the “benefits” of the Great Firewall which prevents local users from accessing social platforms
The Increasing Cost of Labor in China Twenty years ago, the average person saw China’s chief economic competitive advantage being its large pool of inexpensive labor. This, coupled with rising labor costs in traditional manufacturing countries and good infrastructure, made China an attractive option for companies—domestic and foreign alike—in need of unskilled and semi-skilled labor.
China’s beer market is estimated to be worth $70bn-a-year and, despite its total volume falling 5% over the past three years (with the appearance of alternatives like wine), it is expected to soon overtake the US as the largest beer market in the world. Disposable incomes have grown significantly leading to more people being able