콘텐츠 바로가기
로그인
컨텐츠

Category Open

Resources

tutorial

Collection of research papers and materials on development issues

home

Resources
Economy General

Print

China's changing consumer market and the policy implications

Related Document
Frame of Image


Full Text
Title China's changing consumer market and the policy implications
Similar Titles
Material Type Reports
Author(English)

Lee, Jinkook

Publisher

[Sejong]:Korea Development Institute

Date 2016-04
Series Title; No KDI Focus / No. 65
Pages 11
Subject Country China(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < General
Holding Korea Development Institute

Abstract

China’s rural consumer market has exhibited extraordinary growth. Over the past decade, the consumption growth rate and average propensity to consume of rural residents have surpassed those of their urban counterparts, with the former’s consumption patterns becoming increasingly similar to the latter’s. Such a phenomenon prevails in rural areas that neighbor 2nd and 3rd tier cities whose urbanization is progressing rapidly. Accordingly, Korean companies must diversify their products in line with China’s expanding rural markets while further differentiating product composition to satisfy the heterogeneous demands in urban markets. As for the government, efforts must be placed in strengthening the export cooperative system targeting China between domestic manufacturers, distributors (operating in China) and logistics companies.

Resources