Income growth offers rich opportunities
By Du Juan | China Daily | Updated: 2016-11-03 07:37
China's growing consumption will continue to bring opportunities to companies in many industries as the country's middle-income population grows rapidly in the next 15 years.
According to a report released on Wednesday by The Economist Intelligence Unit, the portion of the population defined as middle-income will grow from 11 percent in 2015 to 36.9 percent in 2030 while the share of high-income consumers, with annual disposable income of more than 200,000 yuan ($32,100), will rise from just 2.6 percent last year to 14.5 percent in 2030.
"Those people will bring huge consumption power in sectors including brand cars, luxuries, high-end tourist products and better financial services," said Wang Dan, China analyst with the EIU.
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