{"id":574023,"date":"2026-07-07T22:12:37","date_gmt":"2026-07-07T22:12:37","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/574023\/"},"modified":"2026-07-07T22:12:37","modified_gmt":"2026-07-07T22:12:37","slug":"china-has-potential-to-become-worlds-largest-consumer-market-by-2041-policy-adviser-says","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/574023\/","title":{"rendered":"China has potential to become world\u2019s largest consumer market by 2041, policy adviser says"},"content":{"rendered":"<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Mainland China, already a manufacturing powerhouse, has the potential to become the world\u2019s largest consumer market within the next 10 to 15 years, driven by consumer spending on services where Hong Kong maintains a distinct competitive advantage, according to a prominent Chinese policy adviser.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The country\u2019s share of global consumption could rise by about one percentage point every one to two years, surpassing 20 per cent over the next decade or decade and a half, said Chi Fulin, president of the China Institute for Reform and Development, a Hainan-based public policy think tank.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cChina\u2019s consumption level will gradually converge with that of most developed economies,\u201d said Chi, who is also the president of the Hainan Institute for Free Trade Port Studies, a regional think tank also based in the province.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Mainland China becoming the world\u2019s largest consumer market, he added, would make it Hong Kong\u2019s \u201cstrongest economic anchor\u201d.<\/p>\n<p>Speaking on Tuesday at the <a rel=\"nofollow noopener\" target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/chinaconference.scmp.com\/\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\">annual China Conference<\/a> hosted by the South China Morning Post in Hong Kong, Chi said mainland China accounted for more than one-third of global manufacturing output while its share of global consumption stood at about 13 to 15 per cent, leaving \u201ca significant gap\u201d between the two.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cIf China\u2019s share of global consumption could eventually match its manufacturing share at around one-third, the country would become not only the world\u2019s largest manufacturing hub, but also its largest consumer market and biggest importer,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"Mainland China, already a manufacturing powerhouse, has the potential to become the world\u2019s largest consumer market within the&hellip;\n","protected":false},"author":2,"featured_media":574024,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[174],"tags":[10852,1793,79,244498,244497,244496,25663,179,18,26808,10562,78798,4202,19,17,9744,147589,244499,19453,384],"class_list":["post-574023","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-asia-pacific","tag-beijing","tag-business","tag-chi-fulin","tag-china-institute-for-reform-and-development","tag-consumption-led-growth","tag-domestic-demand","tag-economy","tag-eire","tag-free-trade-agreement","tag-hainan","tag-hainan-free-trade-port","tag-hong-kong","tag-ie","tag-ireland","tag-mainland-china","tag-migrant-workers","tag-regional-comprehensive-economic-partnership","tag-south-china-morning-post","tag-united-states"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/116880995166665360","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/574023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=574023"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/574023\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/574024"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=574023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=574023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=574023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}