World Business NewsA round up of the latest news for those doing business internationally
Chinese spending set to soar
Zone(s): China ¦ Sector(s): Economy
[3 June 2014, CITY A.M.] The boom in China’s middle class is set to drive up retail spending in the world’s second largest global economy by 90 per cent to £3.5 trillion by 2018.
Retail analysts Conlumino said China splashed out £1.85 trillion last year – six times more than UK retail spending. Spending on clothing is expect to double to £212bn in the next five years.