Changing habits of Chinese consumers may be pot of gold

The transformation of Chinese consumption habits is accelerating, with consumers poised to boost spending on leisure, entertainment and healthcare goods and services as they shift from basic material satisfaction to aspirational and personalized consumption, a new report said.

The report, released by CITIC Securities during the fifth China International Consumer Products Expo in Haikou, Hainan province, which concludes on Friday, said the digital economy and biotechnology are fueling new consumption trends in China and posing challenges to traditional consumption patterns.

China's super large market is unleashing enormous potential. Fueled by the country's ongoing consumption upgrade trend and the Healthy China 2030 initiative, a national guideline aimed at promoting overall health, the healthcare sector is undergoing unprecedented changes, and major foreign companies said they would continue to increase investments in China.