China’s Dynamic Consumers – The Young Singles

1Q 2008

Andre Sekulic, President, MasterCard Worldwide Asia/Pacific, Middle East & Africa, and Peter Wong, Executive Director, Hong Kong & Mainland China, HSBC

Abstract

In this joint study, two thought leaders, HSBC and MasterCard Worldwide, partner to examine a well-established and influential demographic, the young, unmarried of China.

Young residents of Shanghai, Beijing and Guangzhou are highly educated, career-focused and ambitious. Those part of this increasing set, singles, have become powerful catalysts in the consumer market. By 2017, the discretionary spending of this group is expected to exceed US$100 billion—a function of the group’s steady growth and its rising income. This report serves to better understand the perceptions, aspirations, and behaviors of this group and how to interface with their consumerism.

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