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China's adherence to zero-Covid along with a sluggish property sector has made this year an especially disappointing and challenging one for businesses and markets. According to EIU analysis, we will see a full year stagnation in China's private consumption growth in 2022. With the recent easing trends of the pandemic containment measures, there is now a higher probability of reopening of the world's second largest economy sometime next year. This suggests that the consumer goods sector will likely be a bright spot of the country's economic recovery in 2023. Meanwhile, our forecast of consistently increasing consumption power of Chinese consumers in the long term remains unchanged.
How has Covid-19 impacted Chinese consumer behavior? What are segments shaping China's consumption landscape over the next five to ten years? How should consumer goods companies better prepare for upcoming changes as well as opportunities in the Chinese market?
To kick off a promising new year, join us on January 12th for an in-depth discussion of these questions with scholars and industry experts. Please bring your own insights to the table for what is sure to be a lively breakfast conversation.
Please note that we will closely monitor the Covid situation here in Shanghai and, if needed, change plans accordingly. For now, we are keeping our fingers crossed.