Chinese demand for foreign consumer goods remains strong
Commerce ministry finds distributors planning to increase imports
Chinese consumer demand for foreign foodstuffs, cosmetics and cars remains strong, two surveys by the commerce ministry showed on Monday, with local distributors planning to ramp up orders from overseas suppliers in the next 12 months.
Nearly a third of the around 1,400 consumers surveyed said they were planning to buy more imported merchandise over the next six months, especially cosmetics, watches and glasses, baby products, cars and jewellery, the commerce ministry said.
More than 30 per cent of the consumers who responded to the question of whether they would buy more foreign cars said they were keen to do so in the next six months, particularly SUVs and new energy vehicles.
China plans to cut import tariffs for cars and car parts on July 1, opening up greater access to the world’s largest auto market amid an easing of trade tensions with the United States.
China is looking to boost domestic consumption amid signs of slowing momentum in the world’s second-largest economy.