China consumption

China's shoppers will fuel growth

HSBC says consumption will be China's primary growth engine, keeping the economy in good shape as affluence increases.
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Citizens, go forth and shop! (AFP)
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<div style="text-align: left;"> Citizens, go forth and shop! (AFP) </div>

Specialists from HSBC remain bullish on China, on the premise that consumption will fuel the country’s future growth.

Recently, we have reported on CLSA’s view that the strength of fixed-asset investment indicates China’s growth is set to continue, as well as a theory put forward by Societe Generale that China’s attempts to suppress volatility could be storing up bigger problems down the road.

This week it is HSBC’s turn to debate which way China’s economy is headed, with the bank’s co-head of Asian economics saying the country’s shoppers will keep the economy in good shape.

Household consumption in China grew by around...

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