< p > although recent series of better than expected economic data show that China's growth rate has stabilized, efforts and consumer sentiment in China's economic transformation will be greatly encouraged. Statistics show that China's retail industry is not booming, and the traditional retail industry is at a turning point. In addition, China's savings rate is rising, indicating that China's economy is still a long way to go to the consumption driven transformation. Consumer sentiment is not optimistic, or will hinder the development of middle class retail brands. < /p >
< p > article states that Reuters's comments on corporate sales in the first half of this year show that more than 20 Chinese enterprises and consumers are not sure whether China's economic growth has dropped to its lowest point. A target= "_blank" href= "http://m.pmae.cn/" > shoes < /a > retailers Belle International Holdings Ltd (Belle International Holdings Ltd) said that China is in the transition period of structural adjustment and improvement of economic growth mode, so the economic outlook is faced with many uncertain factors. The company also said consumers are more inclined to save than consume in this case. < /p >
< p > the article says that the latest data show that China's retail industry is not booming. In July, China's retail sales grew by 13.2% over the same period last year, 14.3% in 2012 and 17.1% in 2011. China Lilang Ltd, a Menswear enterprise, said that many consumers were not affected by sentiment and many businesses were affected. The article points out that China is the country with the highest household saving rate in the world, and the uncertain factors of the future aggravate the difficulties of China and retailers, making it difficult for them to persuade consumers to spend. < /p >
< p > article also said that China's savings rate is rising. According to economic analysts, personal savings in mainland China accounted for about 38% of disposable income in 2012. The IMF said that as early as the mid 1990s, urban household savings in China were less than 20% of disposable income. Lianhua Supermarket Limited by Share Ltd said that influenced by multiple factors such as economic slowdown, Chinese traditional retail industry is at a turning point, and the growth rate of savings shows that China's economy is still a long way to go to the consumption driven transformation. < /p >
< p > article indicates that China's recent economic transformation has slowed down to a more sustainable mode. This has caused some Chinese and foreign enterprises to suffer losses. However, as China's economy becomes stable, China's transformation efforts and consumer sentiment will also be greatly encouraged. In addition, the US jewellery brand Tiffany (Tiffany&Co) and the international famous brand Prada (Prada) have indicated that their sales in China have increased, and retailers such as China Resources Enterprise Ltd are also hopeful for the future. < /p >
< p > consumer sentiment has a certain impact on retail enterprises. China Market Research Group, a strategic market intelligence firm, conducted a public opinion poll of 1000 Chinese consumers who paid 6000 to 15 thousand dollars (37 thousand yuan to 92 thousand yuan) a year. The result shows that most consumers are worried about the future. James Roy, a senior analyst, points out that insufficient consumer confidence can hinder the development of retail brands for the middle class. < /p >