 |  |  McKinsey: Consumers in 25 of China's largest cities expected to double purchasing power in five years
Consumers living in 25 of China's largest cities are expected to see a
doubling of their purchasing power over the next five years, says a new
report—"One country, many markets"—by global management consultants McKinsey
& Company. McKinsey surveyed 15,000 households in 58 Chinese cities in the
first quarter of 2009, the fourth year the firm has conducted such a
survey.
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|  | |  China can add $1.9 trillion to global consumption by 2025, McKinsey finds
A new report by the McKinsey Global Institute (MGI), If you've got it, spend it: Unleashing the Chinese consumer, finds that if China's leaders committed themselves to a more aggressive program of comprehensive reform, they could raise private consumption above 50 percent of GDP by 2025. McKinsey estimates that comprehensive reform would also enrich the global economy with up to $1.9 trillion a year in net new consumption by 2025.
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