News & Insights Across Asia
China’s ice and snow economy is rapidly emerging as a powerful driver of consumption, fueled by a growing interest in winter sports and supported by government policies, injecting new momentum into economic development.
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 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.