The document discusses the drivers of economic growth in 2017, highlighting a consumption boom driven by increased consumer confidence and property price increases in tier 2 and 3 cities. It projects potential growth in consumption for 2018 and beyond, focusing on consumption upgrades in tier 3 cities and rural areas, and increased spending in the services sector. The document includes tables showing per capita disposable income and non-food expenditure shares, as well as retail sales distribution across city tiers.
doj/DataSet10/EFTA01385479.pdf
{"title":"HY Corporate Credit - Consumption Boom Analysis","key_people":["Zhiwei Zhang","Yi Xiong"],"document_date":"2018-01-03","document_type":"tabular","key_locations":["tier 2 cities","tier 3 cities","rural areas"],"key_organizations":["Deutsche Bank Securities Inc."]}