Enter the Chinese Market
Identify Market size
This graph shows the number of China's middle class population in 2002 and a forecast for 2020.
According to the forecast, the middle class in China would grow to approximately 700 million by 2020.
*Number of the middle class population in China in 2002 and 2020 (in millions)
A growing middle class
In the next 15 years the Chinese middle class will make up the 75% of the Chinese population.
In 2015, real private consumption rose by 8.4%, against overall GDP growth of 6.9%, according to estimates by The Economist Intelligence Unit (EIU), and we forecast that it will increase at an average annual rate of 5.5% in the next 15 years.
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by 2030 private consumption is forecast to represent 47.4% of nominal GDP, compared with 38% in 2015.
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The incremental gain that is anticipated in Chinese private consumption over the next 15 years will be bigger than the entire consumer economy of the EU today.
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It's expected that Chinese consumer purchasing power in 2030, measured in terms of nominal GDP per head (in purchasing power parity terms), will be roughly akin to that of South Korea today or the US in 2000
Chinese Consumption
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Chinese population:
Sustained income growth, the introduction of e-commerce and the increased sophistication of consumers continue to underpin consumer spending, even as other drivers of economic expansion falter.
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How big is E-commerce in China?
Monthly active users on selected Chinese social
E-commerce platforms in 2020
China's online retail sales market had been the world's largest for eight consecutive years by 2020.
As the contactless economy boomed due to the COVID-19 pandemic, the country's advantage in e-commerce was further consolidated, with online services such as remote education and healthcare easier to access and new channels of selling becoming more significant.
The size of the market is expected to reach
​314 Billion USD this year
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according to a report from a Ministry of Commerce research institute. It is expected to top 770 Billion USD by 2023.
Resources
Where to start?
Legal
Register the company and start all the intellectual property registrations ( you have already ).
Build a multidisciplinary team to handle the brand and operations in the country
Our legal team has published, author and co-author a series of law books published at Tsinghua University:
Intellectual Property; Commercial; Company and Business Law In A Minute
Web and media presence
Design, adapt and translate your company / Brands identity and materials to Chinese language and culture
Start the official Stores in different channels
Tabao - Tmall - Wechat and Weibo for your brand.
Make your first conversions
Create a timeline and initiate first Import process tryouts