Living in Lower Tier Cities—China—July 2019: Flourishing Lower-tier Cities Provide Impetus to Consum

Published: Tue Aug 20 2019

China is buoyed by robust economic growth fueled by poverty reduction and soaring prosperity in an exponential scale with cities undergoing seismic changes in the urban center of economic gravity. China’s lesser known mega cities such as Hangzhou, Chengdu, and Wuhan are set to be as pivotal as Seoul and Dallas in economic terms. However, China’s economic growth plunged to its lowest level in nearly three decades as the world’s second largest economy feels the heat of a trade war with the U.S. China’s GDP grew at 6.2% in the second quarter of 2019, the slowest quarterly growth rate ever since 1992, according to government figures. These insights are according to the intelligence report, titled, "Living in Lower Tier Cities—China—July 2019," which has been freshly added to Market Research Hub’s (MRH) ever-expanding armamentarium.

With China embarking on economic reforms four decades ago, its biggest cities have been leading the charge in the country’s economic development. As such, Tier-1 cities such as Shanghai and Beijing became hub of development and urbanization as compelling enhancements in infrastructure in these cities underpinned growing industries and emboldened employment opportunities.

Flourish of lower-tier cities will potentially provide momentum to China’s consumption sector. Consumption in lower-tier cities is set to fuel overall consumption growth as the growth is outdoing those in tier-1 cities.

China’s population are more inclined living in lower-tier cities as this change is facilitating the consumer sector to excel in lower-tier cities. With relaxation of the one-child policy and affordable cost of living, fertility rates have been higher in lower-tier cities. Besides, policy initiatives such as flexible household registration system has provided impetus to consumer sector in lower-tier cities.

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Living in Lower Tier Cities—China—July 2019: Report Content

Quantitative and qualitative assessment exhort intelligence and overarching report on the living in lower tier cities—China—July 2019 market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the living in lower tier cities—China—July 2019 market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on living in lower tier cities—China—July 2019.

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Living in Lower Tier Cities—China—July 2019: Research Methodology

Primary sources and secondary sources propel intelligence report on living in lower tier cities—China—July 2019 market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst. Report on living in lower tier cities—China—July 2019 market further acknowledges secondary sources—namely—Factiva, EC filing, press release, trade journals, resourceful database and governmental websites.

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