4 Fastest Growing Sectors in China
4 faster growing sectors in China
The World Bank’s China Economic Update (June 2014) predicts that China’s growth will moderate over the medium term as the economy continues to rebalance gradually. Growth is expected to slow to 7.6% in 2014, and 7.5% in 2015, from 7.7% in 2013.
However, there is still ample evidence to show that China remains one of the world's most dynamic markets. Here are a few sectors that are poised for swift growth in the next decade:
e-Commerce
618m online population in China – 12 times that of the UK and double that of the US. There are now 302m “e-shoppers” in China
$6 out of every $10 dollars online spend in Asia is from China
70% purchase on mobile in China, compared to 46% in the US
Healthcare
$1 trillion healthcare spend by 2020, up from $357b in 2011
34% of China’s population will be over the age of 60 by 2050, up from current 12% (185m)
World's 2nd largest market by 2016
Infrastructure
20% of the world's population in China but China has just 5.6% of its roads
$322b will be invested in Smart City by 2025
Infrastructure's accounted for 8.5% of China's GDP
Clean Energy
No. 1 in the world’s clean energy investment ($67.7b) – responsible for almost 1/5 of total global investment
20% of energy will be from renewable source by 2020
Largest wind resources in the world. 3/4 of its wind farms are offshore