News & Insights Across Asia
Tesla’s sales in China surged by 8.8% to over 657,000 vehicles in 2024, despite a global decline. This growth underscores China’s economic openness and the country’s robust consumption power.
China’s online retail sales surged to 12.4 trillion yuan ($1.71 trillion) from January to October, an 8.8% increase year on year. Online shopping festivals and trade-in policies are driving this remarkable consumption growth.
China’s consumption market experienced robust growth during the National Day holiday, with significant increases in sales revenue, box office earnings, and domestic travel.
China’s National Day holiday from October 1 to 7 saw a significant tourism and consumption boom, with remarkable growth in passenger trips and a notable surge in box office revenues, official data showed.
China’s foreign trade and consumption have maintained steady growth in the first half of 2024, with significant increases in retail sales, imports, exports, and foreign investment, according to MOFCOM.
China’s consumption data for the first half of 2023 shows an 8.2% year-on-year growth in retail sales, highlighting the country’s economic momentum. Experts discuss the driving forces behind this surge.