News Summary: Chinese consumers expect more

AP News
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Posted: Jun 13, 2012 3:33 PM

MORE WEALTH: Chinese consumers can afford to spend more on higher quality products but also expect better value for their money than in the past, an American Chamber of Commerce study found.

GROWING MARKET: China's consumer market is forecast to become the second largest in the world after the U.S. by 2015. Chinese and foreign companies are struggling to keep up as the market evolves, said the report.

EVOLVING TASTE: The past divide between luxury products and affordable ones is blurring as China's middle class grows, with most consumers expecting good value and wide choices, even for less expensive goods.