2024 Outlook on China From Texere Country Manager Jason Tao

As consumer confidence gradually strengthens and policies supporting consumption persist, the groundwork for consumption recovery will further consolidate, boosting the stability of consumer spending.

However, challenges such as reduced government spending, a growing aging demographic, and high unemployment rates may impede the growth, with an anticipated annual increase rate of approximately 5.5%

Furthermore, with diminished expectations for income growth and a sluggish real estate market, it is likely that a downturn in consumer spending within the home and lifestyle sector will be prolonged.

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