The Gap Between China And The US Is Narrowing, And China Is Approaching The World's Largest Consumer Market.

According to Taiwan's "Wang Bao" reported on August 7th, the gap between Mainland China and the United States last year was only 280 billion US dollars ($1 or 7 yuan). The mainland is expected to surpass the United States in 2020 and become the world's largest consumer market.

China's National Bureau of statistics data show that the gap between China and the United States has narrowed from $340 billion in 2017 to US $280 billion last year, and China's consumption scale is very close to that of the United States.

According to the report, if we estimate the speed of catching up in 2018, the mainland will surpass the United States in 2020 and become the world's largest consumer market.

According to the report, in 2018, the retail sales of per capita social consumer goods in the United States amounted to 18 thousand and 517 US dollars, and the retail sales per capita in the mainland were about 23% of that in the United States. If the per capita consumption of the mainland reaches the level of the United States, it means that the market size of the mainland will be 4 times that of the United States. In fact, the relevant international authorities also predict that the mainland's potential market size is 3 to 4 times that of the United States.

According to Xinhua news agency, Wang Qing, deputy director of the Institute of market economy of the State Council Development Research Center, said that the Chinese market is not only huge in volume, but also in the consumer market. Through the release of the new round of consumer policy landing and dividends, enterprises will continue to enrich the supply of products and services, and the consumption potential will be further released.