China's evolving consumption patterns reflect a 'healthy trajectory' of economic development, according to experts featured on CGTN's Talking China program. The shift highlights growing consumer emphasis on sustainability, technology, and cultural engagement, offering fresh insights into Asia's largest economy.
Rethinking 'Downgrade' Narratives
Li Cheng, Founding Director of the University of Hong Kong's Center on Contemporary China and the World, challenged media claims of a 'consumption downgrade,' arguing the term misrepresents consumers prioritizing value and practicality. 'This adjustment reflects maturing preferences rather than regression,' Li noted, emphasizing demand for affordable yet quality-driven choices.
Sectors Leading the Transformation
Wang Wen of Renmin University's Chongyang Institute highlighted structural shifts, with green technologies, smart devices, and cultural-tourism expenditures growing rapidly. 'From electric vehicles to virtual reality tourism, consumers are driving innovation while balancing cost-consciousness,' he explained. Analysts suggest these trends align with broader goals of sustainable development and industrial modernization.
