Chinese consumers are expected to be the biggest engine of the country’s economy. They just need more money in their pockets to do the job
The breakneck speed and sheer size of China's economic development in the last four decades has attracted the world's attention. Eight years after China became the second-largest global economy after years of double-digit annual GDP growth – around 10 percent on average, China now wants to draw attention to the quality of its economic growth.
The goal of a high-quality growth path is aimed at meeting the desire of Chinese people for a better life. The Communist Party of China (CPC) stated at its 19th National Congress in October 2017 that the gap be- tween people's growing demand for a better life and the problems of “unbalanced and inadequate development” is the “principal contradiction facing Chinese society” now.
Although in the last few years, annual GDP growth has been lower – around six to seven percent on average, Chinese policy