According to the China Daily Consumer Goods Foreign Trade Report 2017, China’s daily imports of consumer goods reached US$202.05 billion, a year-on-year increase of 53%.
In terms of types of imported goods, in addition to jewellery, imports of glasses, glass products, cosmetics, plastic products, footwear products, watches, furniture, luggage, and detergents generally increased, and the increase was large.
Li Wenfeng, vice president of the China Chamber of Commerce for Import and Export of Light Industrial Products and Crafts, said that the import of consumer goods has grown rapidly. The fundamental reason is that the domestic economy is generally stable, the income of residents continues to grow, and the import demand brought about by consumption upgrades has risen.
In 2017, China’s per capita GDP exceeded US$8,800, and indicators such as per capita national income gradually moved toward middle- and high-income countries. The increase in consumer demand and consumption upgrades became an intrinsic and inevitable trend of economic development. In 2017, the total retail sales of consumer goods in China exceeded 36.6 trillion yuan (US$5.6 trillion), and the absolute size of the consumer market was one of the largest in the world. In this context, the daily consumer goods industry generally has high hopes for the increase of import demand for Chinese household goods.