Growing Chinese appetite for foreign consumer goods

CHINA'S TRANSITION GAINS SPEED | Containerised import growth into China is showing signs of strengthening and may reflect the gradual shift to a more consumer-driven economy.

Maersk 2017

China's per capita income is predicted to more than double to about USD 12,300 in 2020, as the number of middle class households also doubles, according to the Boston Consulting Group.

This is a source of encouragement in a year in which Maersk Line's volumes on the Asia to Europe trade lane, the world's biggest, are expected to fall 3%.

Maersk Line's China bound shipments, however, are experiencing strong growth in what could develop into a trend towards greater volumes of consumer goods rather than less profitable scrap material.

"Imports in containers into China have actually been increasing by double digits so far this year, so already we see there are signs of change in the Chinese economy," says an enthusiastic Lung Ip, Maersk Line Trade and Marketing Manager for North China, a cluster with bright prospects.

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