China has potential to become world’s largest consumer market by 2041, policy adviser says

Mainland China, already a manufacturing powerhouse, has the potential to become the world’s largest consumer market within the next 10 to 15 years, driven by consumer spending on services where Hong Kong maintains a distinct competitive advantage, according to a prominent Chinese policy adviser. The country’s share of global consumption could rise by about one percentage point every one to two years, surpassing 20 per cent over the next decade or decade and a half, said Chi Fulin, president of..