‘Mass affluent’ consumers are generally young, tech-savvy, and more prone to free spending than their western counterparts, according to Oliver Wyman. Photo: AP

China’s 34m ‘mass affluent’ consumers to drive 75 pc of national consumption by 2020

Around 34 million ‘mass affluent’ consumers, who’ve earned their wealth in the new economy, will drive the majority of China’s spending in the near future, global consultancy says

Topic |   Consumers

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‘Mass affluent’ consumers are generally young, tech-savvy, and more prone to free spending than their western counterparts, according to Oliver Wyman. Photo: AP
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Celine Ge

Celine Ge

Celine Ge is a Hong Kong-based business reporter with the Post chasing after news on consumer and services companies. She studied journalism at Hong Kong Baptist University before attending King’s College London for a masters in international political economy.

Zheng Yangpeng

Zheng Yangpeng

Zheng Yangpeng is a business reporter at the Post, covering China property, banking and finance. He previously worked for China Daily, joining the Post in 2016. He holds a Bachelor's Degree in Journalism and Communication from Peking University, and a Master's Degree in Global Business Journalism from Tsinghua University.