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China's Retail Banking Landscape Being Shaped By Four Trends
“China’s retail banking revenues have grown 30 percent a year since 2009 and could exceed RMB 2.6 trillion (over US$430 billion) by 2020, making the country the largest retail banking market in Asia. Intense competition for the Chinese retail banking consumer’s wallet has accompanied this fast growth. Meanwhile, the retail banking landscape has faced several challenges, including interest rate…
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China Reduces Import Tariffs To Boost Consumer Demand
China Reduces Import Tariffs To Boost Consumer Demand
“China will cut import taxes on consumer goods by more than 50% on average in a bid to boost consumer spending,” BBC reports.
Chinese consumers started shopping abroad due to very high tariffs on imported goods. In order to boost domestic demand, Chinese officials are aiming to lower the taxes.
The tariff reduction is an “important measure to create stable growth and push forward structural…
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