American designer Kelly Wearstler, X+Living founder Li Xiang, UNStudio's Garett Hwang, designer Carole Baijings and Bentley Motors' Kim Airey have been announced as Dezeen Awards China 2023 judges.
Chinese consumer spending is set to more than double in the next ten years. By 2030, China’s private consumption is set to reach a staggering $12.7tn. In such a competitive and growing market brands need to stand out from the crowd.
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In 2020, the Chinese consumer brand investment and financing market reached the highest level.
There were 245 investment and financing events throughout the year, far exceeding 183 in 2018 and 143 in 2019, according to Chinese data tracker Yingshangwang.
As China’s economy is undergoing a L shape adjustment, the government regards stimulating consumption and expanding domestic demand as an important means to promote economic development. As Chinese consumers become more affluent, they are demanding those brands that truly understand and meet their unique needs.
The market generally believes that the next 5-10 years will be a golden era for local Chinese consumer brands.
The record financing markets for consumer brands in 2020 is due to the relatively low base of 2019 and a rapid rebound from the pandemic.