China to become world's top retail market in 2016

[beijingwalker]

China to become world's top retail market in 2016
2012/12/24 11:25 KST
By Kim Young-gyo

HONG KONG, Dec. 24 (Yonhap) -- China will become the world's biggest retail market in 2016, global advisory firm PwC said Monday.

Growing 10 percent or more annually from 2012 through 2016, China will overtake the U.S. as the world's biggest retail market in four years, the firm predicted.

Despite the country's slower economic growth, the Chinese retail industry is expected to grow 10.9 percent in 2012.

China's economic growth is losing steam due to the eurozone debt crisis and other global uncertainties.

The gross domestic product (GDP) grew 7.4 percent on-year in the July-September period, slowing from the 9.1-percent increase during the same period a year earlier. The world's No. 2 economy grew 7.6 percent on-year in the second quarter and 8.1 percent in the first quarter.

However, global retailers will continue to bank on China to drive growth, PwC said.

In the Chinese Communist Party's National Congress held last month, the country's leadership aims to double China's GDP and per capita income of both urban and rural households by 2020.

"Retailers operating in China are no longer just focusing on the bigger first and second-tier cities. They're now expanding in third and fourth-tier cities as disposal incomes in these untapped markets increase," said Carrie Yu, PwC's retail and consumer leader for China and the Asia Pacific.

The firm also expected that Chinese consumers will continue to drive global luxury market growth in 2013 and onwards.

China's online retailing will enjoy exponential growth, accounting for a 23.4 percent share of global business-to-consumer e-commerce sales in 2016, up from 9.9 percent in 2012.

Meanwhile, PwC said South Korea's retail industry will moderately grow through 2016.

Compared to an estimated 1 percent growth in 2012, the South Korean retail market will grow 2.1 percent in 2013, 2.2 percent in 2014, 2.8 percent in 2015 and 2.9 percent in 2016.

 

[Methu_Xie]

I support Japanese enterprises to leave China and move to South-East Aisa.
I am so afraid of the fatal damage to China economy that made by the leaving of Japan corporation.

 

[terranMarine]

I support Japanese enterprises to leave China and move to South-East Aisa.
I am so afraid of the fatal damage to China economy that made by the leaving of Japan corporation.

Trade embargo with Vietnam too if these vietcongs keep barking

 

[neehar]

a strong china will result in a strong asia..
words by IMF asia chief
“Twenty years from now, Asia’s economy as a whole will, on these trends, be larger than that of the G-7 [Group of Seven leading economies] and will be half the size of the G-20 [Group of Twenty advanced and emerging market economies],"
IMF Survey: Asia's Importance Growing in Global Economy

hope atleast then i shall see a peaceful asia

 

[beijingwalker]

Trade embargo with Vietnam too if these vietcongs keep barking

Vietam's future or no future hinges on how well they can deal with China.

 

[terranMarine]

Vietam's future or no future hinges on how well they can deal with China.

Not according to some vietcongs here, they think Japan is gonna invest so much in Vietnam that they can replace China lol. Some dreamers here don't realize Japan is having problems to survive let alone turn Vietnam into their most important trading partner.

 

[beijingwalker]

Not according to some vietcongs here, they think Japan is gonna invest so much in Vietnam that they can replace China lol. Some dreamers here don't realize Japan is having problems to survive let alone turn Vietnam into their most important trading partner.

Japan is a lost cause in global economy,and this sign is increasingly obvious with each passing day.

 

[terranMarine]

Japan is a lost cause in global economy,and this sign is increasingly obvious with each passing day.

Only the dreamers here don't see it when it's that obvious.

 

[Avalonia]

Toyota become world's top auto-maker again in 2012 nevertheless fall of sales in China.

 

[Avalonia]

according to Chinese Automobile Industry Association's report of Dec 11, Japanese brands November auto sales in China soared up 72.2% from previous month. followed by American brand's 17.2%, South Korean brand's 13.8%


proven that sentiment from CCP-planned show(anti-Japanese demo) don't lasts long.

 

[Vinod2070]

The records keep tumbling.

This is the largest juggernaut in history.

 

[beijingwalker]

here we are talking the overall economy

 

[PITA]

Avalonia,

How does this reflect China's presumed dominance in the 2016 retail sector? If it doesn't then it's obvious that you're trolling and you will get reported. BTW, What were the y-o-y figures?

 

[ahfatzia]

Not according to some vietcongs here, they think Japan is gonna invest so much in Vietnam that they can replace China lol. Some dreamers here don't realize Japan is having problems to survive let alone turn Vietnam into their most important trading partner.

More than two decades ago Guangxi had the same attitude (as the Viets today) and didn't want to hitch the same ride with Guangdong's Pearl River Delta economy. They went their own separate way trying to develop Beihai Port linked with Fengchenggang Port. Look what happen them now, the developments went nowhere and their GDP left far behind while Hunan and Ganzhou of Jiangxi caught that momentum and are thriving now.

Sometimes when you have too much pride you can wind to be a dignified beggar. Those countries in ASEAN will suffer the same consequences if they're too proud to enter the Chinese market. Japanese are no fools and they can be very humble if they are needed to be.

 

[terranMarine]

More than two decades ago Guangxi had the same attitude (as the Viets today) and didn't want to hitch the same ride with Guangdong's Pearl River Delta economy. They went their own separate way trying to develop Beihai Port linked with Fengchenggang Port. Look what happen them now, the developments went nowhere and their GDP left far behind while Hunan and Ganzhou of Jiangxi caught that momentum and are thriving now.

Sometimes when you have too much pride you can wind to be a dignified beggar. Those countries in ASEAN will suffer the same consequences if they're too proud to enter the Chinese market. Japanese are no fools and they can be very humble if they are needed to be.

That's why an Asian NATO containing China shall not escape punishment. Our neighbors will benefit more if they have warm ties with the biggest country and economy on this side of the planet. Let Japan serve as an example if they don't change their attitude.