China’s booming economy has delivered consumer product companies some of the world’s greatest growth opportunities over the last 20 years. However, the government recently lowered its official five-year annual GDP growth target to 6.5 percent, the slowest targeted growth since the 2008 global financial crisis. China’s economy is actually undergoing a structural transition. Consumption isn’t rising as fast as it did during peak boom years, but consumption growth is still on a staggering upward trajectory. China’s consumer economy is projected to expand by about half, to $6.5 trillion, by 2020. In fact, incremental Chinese consumer growth of over $2 trillion over the next three years would be equal to adding a consumer market larger than that of Germany today. Despite a slowing economy, China will remain one of the fastest growing consumer markets in the world for the foreseeable future.
Upward mobility and demographic forces are transforming the Chinese consumer markets. The meteoric rise of upper-middle-class households, a new generation of free spending tech savvy consumers and the powerful pull of e-commerce all promise immense new…
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