China is likely to become the world's second-largest consumer market by 2015, says a new report released by the Boston Consulting Group.
The ratio of China's consumer spending will go up from last year's 5.4% to 14.1% in 2015 compared with the one of major nations in the world, which means more and more business opportunities will be provided by China for the good producers and service providers in all nations.
The report is based on a survey of 13 Chinese cities including Beijing, Shanghai, Guangzhou, Shenzhen, Xi'an etc..
Chen Changhua, the director of China's research department of Credit Suisse said that many consumers' budget dropped in 2006 on a year-on-year basic though the high-speed economic growth.
"We considered that there are two factors which caused the phenomenon of contradictions, that is, consumers expected the price of most goods would drop and wait to buy with cash in hand.,while the personal income growth slows relatively" said Chen.
The report involves the consumers' income and the consumer behavior of many industries, such as automobile, food and beverages, electronic and IT products, retail food, internet, tourism, real estate etc.