Chinese, one of the largest population in the world, is well known for its incredible demand for everything, in particular necessities. According to the latest study by think tank Demand Institute, there was a 70% increase of $3.7 trillion that Chinese consumers spent last year. By 2025, Chinese consumers are expected to spend more than $6.4 trillion a year, which is a startling amount.

In fact, China’s population accounts for almost 20% of the whole world population, according to Worldometers (2015). With China’s continuous and thriving economic growth since 2000, the purchasing power and willingness of the population in China are generally increasing. No wonder large enterprises such as Apple Inc. are regulating products and services to accommodate Chinese consumers’ needs. For instance, Apple Inc. produced iPhone5 in gold specially for Chinese market. The influence of Chinese does not only appears in local aspect, but also being beneficial to international and transnational aspects.

Being one-fifth of the world population (which keeps growing continuously), Chinese market is always expected to be focused by worldwide corporations. The development of Chinese local consumption online such as Alibaba is also worth to be noted. With no doubt, we should always keep a close eye on the future development of this large market, which is of great potential and influence to the world.

Reference:

China Population in 2015  http://www.worldometers.info/world-population/china-population/

China’s consumers to spend $6.4 trillion by 2025 http://money.cnn.com/2015/11/19/news/economy/china-consumer-spending/index.html?iid=SF_LN