CHINESE CONSUMERS’ CONFIDENCE ROBUST
“The growth in Chinese consumption will be much faster than Chinese GDP,” says Li-Gang Liu, Chief Economist from Greater China Team at ANZ.
The Chinese consumers’ confidence is robust, and their spend is the same as Germans. German is the world’s 4th largest economy in the world. The current fears of China’s economy slowing down is also addressed by Liu. He believes that the Chinese government is responding through restructure such as medical insurance and health policies, and these reform will have a boost on China’s consumption rate.
To know more about ANZ’s survey, click here to view the video.