The 2025 economic outlook for China is drawing significant attention as experts analyze consumer trends and macroeconomic stability following turbulent times. Recently, the 2025 Consumption Trends Conference organized by Zhiheng consulting introduced the 2025 China Consumption Trends Report, setting the stage for key insights on how the economy is expected to navigate the coming years.
Liu Tao, Deputy Director of the Market Economy Research Institute at the State Council Development Research Center, shed light on the economic climate during his presentation. He emphasized the importance of bolstering internal demand, stating, "The dual focus on supply-side reforms and demand management is pivotal for boosting consumption." According to him, creating favorable conditions for consumer spending remains at the forefront of China's economic agenda.
The timing of these insights couldn't be more pertinent, as KPMG China also released its report, Top Ten Macroeconomic Trends for 2025, dated December 27, 2024. This report outlines significant projections indicating economic resilience and the potential for growth. The anticipated GDP increase of about 4.6% is attributed to renewed efforts to expand domestic demand and implement strategic policymaking.
Among the major predictions, KPMG noted, "We expect the Chinese economy to achieve around 4.6% growth, with internal demand being the key focus." This highlights consensus among economists on the pathways to sustainable economic improvement. The report goes on to identify ten trends, including the rise of artificial intelligence and green initiatives, aiming to realign the focus toward innovative and effective economic practices.
During the Zhiheng conference, Xiao Mingchao, the founder and CEO of Zhiheng consulting, engaged the audience with insights from the annual consumption trends report. He stated, "Consumer trends for 2025 will center around quality awakening and immersive experiences," capturing the essence of the shifting psychology among consumers toward enhanced life experiences and individual fulfillment.
Attendees at the consumption trends conference included various industry leaders who engaged passionately on the themes of innovation and strategic developments needed to navigate the changing market. Discussions spanned across consumer behavior, emphasizing the need for businesses to focus on delivering quality products and enhancing service expediency.
The conference's agenda included three prominent sessions where industry leaders shared their thoughts on quality emphasis, brand loyalty, and novel culinary experiences, among others. Each of these focal points ties back to the overarching drive for companies to adapt and align strategically with the anticipated consumer demands of 2025.
Meanwhile, the KPMG report also highlighted challenges such as impacts from tariffs on foreign trade and the necessity for businesses to seize opportunities abroad amid shifting global dynamics. The need for collaboration with developing markets is increasingly being recognized as imperative for bolstering China's economic resilience.
With technology playing such a significant role, discussions around how artificial intelligence could spearhead industrial transformations were particularly vibrant. Experts anticipate AI will significantly facilitate productivity improvements across various sectors, pushing the envelope of traditional operational capabilities.
Lastly, forums at the Zhiheng conference provided opportunities for cross-sector dialogue focusing on consumer society transitions where academics and business leaders intersected. These exchanges centered not only on challenges but also on opportunities bestowed by innovative economic practices.
Overall, the insights from both the Zhiheng consumption trends conference and KPMG's macroeconomic report illuminate the forthcoming year’s vision for the Chinese economy. By emphasizing internal consumption, technological advancement, and strategic policy alignment, stakeholders are urged to prepare for the shifts expected as consumer preferences evolve and the economy seeks sustainable growth.
