Chinese Consumers Less Likely to Up Spending This Year, BCG Says
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Consumers in China said they are less likely to increase spending this year as the economic environment becomes more uncertain, according to a Boston Consulting Group survey.
In particular, the middle-income and affluent consumers in smaller Chinese cities beyond Shanghai and Beijing are more inclined to hold back on additional purchases, preferring instead to save for future family spending or car and property purchases, said Boston Consulting, which polled a thousand consumers in 12 cities on the mainland in April.