US Media: China Is Expected To Surpass The Number One Retail Market In The United States This Year.

The United States today's January 23rd article, the original question: the report said China will surpass the United States in 2019 to become the world's largest retail market. The new report shows that China is expected to overtake the United States this year to become the world's largest retail market, highlighting the growing middle class of this Asian power and pforming itself into a consumer driven economy.

The global retail and electricity supplier forecast released by eMarketer, a market research firm, shows that China's total retail sales will grow by 7.5% to 5 trillion and 600 billion US dollars in 2019.

The US is expected to grow by 3.3% to $5 trillion and 500 billion.

Although both retail sales are slowing down, China's growth rate will surpass that of the United States until 2022.

Monica Peart, senior business leader of eMarketer, said: "in recent years, the incomes of Chinese consumers are increasing day by day, and many of them are among the new middle class."

China has become the world leader in the field of e-commerce sales. It is expected that 35.3% of China's retail sales will take place online this year, compared with 10.9% in the US.

In 2019, China's electricity supplier sales are expected to grow by 30% to $1 trillion and 900 billion.

According to the report, China will account for 55.8% of the world's total online retail sales by the end of this year.

Over the past decade or so, China has been trying to pform its economic pillar and gradually shift its investment from factories, commerce and housing to household consumption.

China's household consumption has increased over the past three to five years, and Peart said the trend is also in line with China's anticipated rise.

But the study also shows that the annual retail expenditure per capita in the US is still far ahead of China, which is expected to be US $16661 this year, while China is only $4056.