China needs to move on from an "export economy"

[SinoChallenger]

Suggest you read 5 year plan 2010-2015. This is already covered.

 

[beijingwalker]

Chins now is world's biggest market for cars,electronics,PCs,cellphones,gold products and second biggest in luxurt items

Half of All New Cars Will be Sold in China by 2020 Say Industry Experts

Last year China surpassed the United States to become the world’s largest car market, but that was only the beginning say industry experts. Selling 18.06 million units in China in 2010, that number could rise to 40 million in just the next 10 years. That, at least, is the prediction of Byeong Jin Lee, Hankook Tire China’s vice-president of marketing and sales, who insists he’s not alone in his forecast.

If China were to reach the 40 million mark, it would mean that one of every two new cars sold in the world would be in China.

Jin Lee points to the tremendous growth over the past few years with new car sales in China up 34 percent last year and 50 percent the year before. While he does not expect that trend to continue quite as dramatically, only 10 percent growth per year will help China hit the 40 million mark.

Perhaps more believable is a 30 million target by 2020, which is what the Chinese government and major Chinese domestic automakers like Shanghai Automotive Industry Corporation (SAIC) are targeting, according to info from Hyundai’s Chinese division.

China to become the world’s largest market for luxury goods

2 February, 2011

Hong Kong - Wednesday, 2 February 2011 - CLSA Asia-Pacific Markets (“CLSA”), Asia’s leading independent brokerage and investment group, forecasts demand for luxury goods and travel from Greater Chinese to account for 44% of global sales by 2020, up from 15% today. With an estimated annual growth rate of 23%, China will become the world’s largest domestic market for luxury goods, worth Euro74 billion or 0.6% of the country’s total GDP, over the next decade.

 

[beijingwalker]

fast increasing salary rate enables millions of people to afford luxury goods in China every year.the purchasing power is getting stronger like crazy.with one fifth of the humanity,China's comsuption market is almost like infinite.China is like a small world to some extent.