Domestic products are increasingly driving consumption in China at a time when retail choices have begun to shift away from the long-time pursuit of international brands, according to economic observers.
China remains the biggest market for food and beverages, automotives, textiles and apparels, chemicals and chemical products, iron and steel, as well as consumer electronics, according to Bain.
De-risking, geopolitical tensions and tightening regulation have turned some investors away from China, while others still see the potential in its market of 1.4 billion people.