Chinese consumers kept their wallets open in 2015, that’s according to the Commerce Ministry. Spending in China remained stable, with over 10 percent increase.
“We see fast development in emerging sectors. Electronic commerce rose over 30 percent year on year, taking up one tenth of the total consumption. Shopping malls saw their revenues gain 11.8 percent, much faster than supermarkets and department stores,” said Shen Danyang, spokesperson of ministry of commerce.
Looking into the new year, analysts say the consumption may be more or less the same, although pressure remains. They say destocking overcapacity is the key task, and the consumption may have a low growth in the first half year, and resume speed in the second half year. Commodity prices may be kept low, leaving not much pressure for inflation. For businesses, online retails is a must have sector for growth. Tourism, Sports and entertainments are expected to see rapid growth.