Economic Watch: Discover Chinese consumers in COVID-19-ravaged 2020 and beyond

Beijing, January 24 (Xinhua) - China's consumer spending has been on track to recover from VOCID-19's ravages, with a proven resilience in the tests in 2020 and new features to see this year.

The signs of a consumption reactivation have become increasingly prominent in China, since retail sales increased by 4.6 percent year after year in the fourth trimester. He recovered from the dramatic contraction in the first two quarters and showed a sustained recovery impulse.

Constant recovery of consumption is not the whole story. The unprecedented epidemic has had a profound impact on the habits and preferences of Chinese purchases and consumers. Some of these implications will probably persist even in the post-epidemic era.

The following interruption of the official data sheds light on how the recovery of China's consumption has been developed and what new brilliant points are entering the view.

Digital Upsurge

China online shopping have been in a tear, and this boom prevailed Even in the middle of the epidemic Covid-19. Store stops and Chinese consumers become more dependent on online platforms to shop.

China classified as the world's largest online retail market by an eighth consecutive year in 2020, with emerging online sales by 14.8 percent year After year to 9.8 trillion yuan (around 1,52 trillion US dollars).

Livestreaming served as a catalyst, with influencers sitting in front of cameras and products promoting through their social media channels.

Official data showed that more than 20 million marketing activities were carried out in Livestreaming by 2020. He made a legion of the main names of influential households. To sell real offers to smart consumers.

Automatic Top-Notch sales

The automotive market continues to be a culminating point of China's consumption EN 2020. With 25.31 million units sold last year, China topped the world at Auto Sale for 12 consecutive years.

As the largest automotive market in the world, China actively pursues green growth in your massive automotive industry. Sales of new energy vehicles (NEV) in the country emerged to a record high of 1.37 million units last year, up to 10.9 percent year after year.

In November of last year, China revealed a development plan for its NEV industry from 2021 to 2035, waiting for purely electric cars to master new purchases in 2035.

Market observers expect China to continue leading the global change from the automotive industry to Nevs. A predicted cidi securities report provided NEV sales would rise by 54 percent year in a year to 2.1 million units in 2021.

Fantasy for foreign products Impacted by travel restrictions induced by the epidemic, Chinese consumers no longer travel both to buy international brands abroad, but their thirst for foreign products remains real .

Official data showed that the official imports of China's consumer goods imports increased 8.2 percent year with year to 1,57 trillion yuan in 2020, representing 11 percent of the total value of country imports.

Partially growth resulted from the expansion of the country's cross-border e-commerce business, which was shot by 31.1 percent for a year in the added volume of import-export.

Policy stimuli To promote consumer goods imports function as another growth controller. For example, Hainán Province of China Island increased its annual tax-free purchase share of 30,000 yuan at 100,000 yuan per person as of July 1, 2020. Tax-free goods have also expanded, with so


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