China, being the world’s second largest economy, is now driving towards a local consumption driven growth economy. China’s economic growth fundamentally reshapes its retail landscape, creating both seismic shifts and strategic opportunities. Services (travel and entertainment) outpace goods. Consumption demands fuelled the economy as urban disposable income in China continue to grow. China’s urban disposable income grew at 6% annually (2019-2023). We will continue focus to look for investment opportunities to consumption-upgrade winners (premium brands, health, experiences and retail-tech innovations). Our investment in the streaming short drama platform Saros TV is an example of our efforts in these initiatives.
