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20 Retail Cities

China

Report

Reihe: Savills Spotlight

Anbieter: Savills

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  • Erscheinungsdatum : 15.08.2019
  • Seiten : 20 Seiten
  • Datei-Typ : PDF-Datei
  • Größe : 2,33 MB
  • Sprache(n) : Englisch

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Inhalt

China became the world's second-largest economy back in 2010. Since then, retail sales growth has slowed from 18.4% in 2010 to 9.0% in 2018, which is largely explained by an increasingly broader base of comparison.

Growth of 9.0%, although close to a ten-year low, is still significantly higher than the other major economies. Given its large market size and current growth rate, China is set to overtake the US as the largest retail market in the near future, with retail sales expected to hit USD5.3 trillion in 2019. China's role in the global apparel industry has rapidly transformed from producer to consumer. In 2005, 71% of the apparel produced in China was exported. The figure dropped to just 47% in 2017 with more products staying onshore.

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