Over the past 75 years, the People's Republic of China has experienced remarkable growth in consumer spending, reflecting the nation's rise in affluence and standard of living. In 1949, the average citizen's consumption was modest, focusing primarily on basic necessities. Fast forward to 2023, and per capita consumption has surged to 26,796 yuan ($3,820), marking a 536-fold increase. This transformation signifies a shift from merely surviving to enjoying a rich and diverse lifestyle, underscored by continuous advancements in income levels, economic sectors, and sustainable practices.
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China's 75 years of consumer spending showcases growth of affluence
cgtn.com
