The prospect for higher quality growth in China lies with its consumer sector, according to the latest research briefing from Asia House.
The paper, authored by Phyllis Papadavid, Director of Research and Advisory at Asia House, highlights China’s transition to a new economic model, in which prospects for higher quality growth, and for its long-term economic recovery, depend increasingly on its consumer sector.
Significant progress in digitalisation, and China’s leadership in e-commerce and in its cashless ecosystem, augurs well for the outlook, the paper says, while the broader, trade weighted strength in the renminbi will also boost Asian countries that benefit from its demand, particularly Japan and South Korea.
The report examines three structural pivot points for consumers: China’s cashless ecosystem, the e-CNY, and the renminbi.
READ THE BRIEFING
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