The Conference Board uses cookies to improve our website, enhance your experience, and deliver relevant messages and offers about our products. Detailed information on the use of cookies on this site is provided in our cookie policy. For more information on how The Conference Board collects and uses personal data, please visit our privacy policy. By continuing to use this Site or by clicking "OK", you consent to the use of cookies. 
Chinese Consumers Are Turning Cautious
  • Authors:

    Leo Austin

  • Publication Date:
    October 2019

This report outlines the factors driving increasingly cautionary spending behavior of Chinese consumers. A confluence of factors is crimping Chinese consumption. A weakening outlook for jobs is dragging on the mass market. For higher-income consumers, indebtedness and waning real estate wealth effects are the culprits. Income growth, the most important consumption enabler, is slowing measurably for the middle earning group in China. The route to sustainable consumption growth is for government policy to effect income growth for poorer citizens, as this cohort has a high propensity to spend when they have the funds available. Moreover, experience in other countries shows that pushing up income levels here serves to eventually push up income levels across the board.


China Center Publications
Members: Sign in to see if this product is complimentary with your membership.
Non-members: Not available
(Click here to learn more about membership