2023年中国商业十大热点展望（英）

Fung Business Intelligence and the Expert Committee of the China General Chamber of Commerce are pleased to present the 20th edition of our annual Ten Highlights of China’s Commercial Sector report.

2022 has proven to be a tough and challenging year for many Chinese enterprises. The volatile COVID-19 pandemic and the associated mobility restrictions have weighed on consumer sentiment and dragged down consumer spending. In response, the Chinese government has launched a raft of supporting policies and relief measures, including measures encouraging spending on new-energy vehicles as well as green and smart home appliances to boost domestic consumption, and financial support for businesses.

As these stimulus measures gradually take effect, together with the relaxation of COVID-19 restrictions, China is set for a robust economic recovery in
the months to come. The Central Economic Work Conference held in mid- December 2022 also signals that China will step up policy support to boost consumption and economic growth in 2023.

2022 also marked the holding of the 20th National Congress of the Communist Party of China – the most important political event in China held every five years, during which Chinese President Xi Jinping has set forth a long-term strategic blueprint for high-quality development. More efforts will be directed towards modernization of the circulation network in support of the construction of a unified national market. Plans to advance rural revitalization will also help increase farmers’ income, providing new impetus for consumption growth.

With input from more than 160 top-tier mainland experts, Ten Highlights once again identifies top trends of the past 12 months and anticipates what will shape China’s commercial landscape in the year ahead.

In 2023, three important trends are reshaping China’s consumer market, including the growing green living, rising rural consumption, and accelerated digitalization. Green consumption is becoming the norm, fuelled by the accelerating green transformation in the commercial sector as well as consumers’ increased sustainability consciousness. The Chinese government is also committed to bolster rural e-commerce and improve rural logistics and infrastructure, which will help unleash the consumption potential of the rural areas. Besides, digital transformation is taking shape, with an increase in digital adoption in the commercial sector to optimize supply chains and create seamless omni-channel retail experience for customers. These developments will open up new opportunities for local and foreign businesses alike.

Ten Highlights is a valuable resource for global brands and retailers, and firms and individuals seeking to better understand the latest commercial trends, issues, and opportunities in China. We wish to thank all panel members on the Expert Committee for sharing their important insights, and our Fung Business Intelligence colleagues for their many contributions.