On Sunday Jan 20th, Fung Business Intelligence held a media briefing to announce the release of the Ten Highlights of China’s Commercial Sector 2019 (English version).
Ten Highlights of China’s Commercial Sector, now in its 16th edition, comprehensively tracks how China’s commercial sector is evolving year by year, and provides overseas enterprises and investors with insights into latest commercial trends and issues in China’s fast-changing domestic economy. It has long been considered by global retailers, commercial enterprises and individuals as an excellent point of reference.
According to the report, in 2019, mounting global economic uncertainties have made the overall business environment for 2019 hard to predict. China’s economic growth may soften, further decelerating its retail sales growth to about 9% this year.
The Ten Highlights forecasted for 2019 are as follows:
1. Innovation leads to high-quality consumer market growth; empowers domestic consumption to drive China’s overall economic growth
2. China adopts an e-commerce law to improve market regulation
3. Service consumption proliferates; catering industry embraces digital marketing; community businesses become increasingly competitive
4. Business model upgrading and transformation revolutionize the retail sector
5. Boosting imports to address consumer demand for quality living; global sourcing enhances consumption upgrading
6. Government to bolster growth of the real economy; further optimizes the business environment, cuts taxes and fees
7. Digital transformation of retail accelerates; supply chain digitalization helps to drive retail and economic growth
8. Department stores, hypermarkets and supermarkets continue to reinvent and innovate; capital investment in the convenience sector proves to be a double-edged sword
9. Rural e-commerce sees rapid growth; plays a key role in poverty relief and rural revitalization
10. Shifting from price wars, logistics players compete on service quality to satisfy consumer upgrading
“For the 16th edition of Ten Highlights, we, together with our Beijing research partner, have garnered the views of over 160 leading experts in a report that we believe points the way for key development trends in China’s commercial sector over the coming year,” said Fung Business Intelligence Managing Director Mr. Chang Ka-mun.
Ms. Teresa Lam, Vice President of Asia Distribution and Retail at Fung Business Intelligence, presented to the media the findings, insights and development trends of China’s commercial sector, along with implications for business sectors and investors.
From left to right: Renne Chan, Research Manager (Asia Distribution and Retail), Fung Business Intelligence; Teresa Lam, Vice President (Asia Distribution and Retail), Fung Business Intelligence; Chang Ka Mun, Managing Director, Fung Business Intelligence.