Consumption expenditure contributed 76.2% to GDP growth in 2018. The market for imported goods totaled US$2,078.10 billion, an increase of 12.9%. The population of consumers who buy foreign products online is estimated to exceed 200 million by 2020 according to Deloitte. In the pilot areas, such as Shanghai, Hangzhou, Shenzhen, and Guangzhou, next-day delivery or the same day delivery become normal for goods ordered through the platform.
Consumption drives imports
Chinese consumers have been cultivating the habit of buying imported goods through cross-border e-commerce platforms. After several years’ touching, the per customer transaction and categories all show the growth momentum in the long run.
Consumption as the primary driving force for economic growth was further strengthen...
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