Looking back on the year of 2009, the total social sale in China reaches RMB1.2 trillion, an increase of 15.9%. Internal consumption sale in China increases by 9%, however, exports declines by about 20%. In 2010, the export is estimated to jump to 3%.
The good news is that in 2009, China has successfully compensated the vacancy on the U.S. consumption. For example, the US consumption in 2009 fell more than US$2000 billion than in 2007, while China's consumption, compared with 2007, increased over US$3000 billion.
China is changing from traditional external demand-based economy to a domestic demand type! Let¡¯s have a review of China market highlights in 2009:
The automobile production and sale in China in 2009, for the first time breaking 10 million, reached a historic 13.6 million with a record speed of 46%! China has become a leader in the global automotive industry. As the truly world's biggest automobile market, China left United States behind by the gap of 3 million cars. Meanwhile, China's market share rose by 20% above, from the previous year of 13.3%. The development of China's automobile market in 2009 has surprised the world!
China Construction Bureau issued 2009 Annual Report which shows that the total new construction contract for the full year reached RMB412.3 billion, increased by 41.8% year on year.? And the real estate business is even stronger, with cumulative sales in china growth of 77% over 2008!
Under the situation of global declining, the luxury sale in China exceeded 5 billion U.S. dollars in 2009, far higher than 2008 sales of 3 billion U.S. dollars, with world's No. 1 increaser. Currently, China's luxury goods accounted for 25% of the global market, and became the second largest luxury consumption nation, only to Japan.
The increasing luxury demands sale in China are leather goods (bags and footwear), cosmetics/perfume/ personal care products. What¡¯s more, the growth impetus came mainly from the new consumers. Many luxury brands have extended their store distribution to the second and third tier cities, and thus exposed to more new potential consumers with the purchasing power.
In 2010, China's business is worth waiting for!