China and Foreign Products Demand
China is the world’s second-richest country and second-largest importer. In the last 5 years import in China has grown significantly. In 2013, China bought US$1.95 trillion worth of imported products, up by 93.9% in the last 5 years.
China has been a large importer of electromechanical products and one of the largest consumers of commodities in the world, with a huge demand for crude oil, iron ore, copper, aluminum and soybeans. The demand for western goods in China is constantly growing.
China has a growing demand for foreign consumer products, as wine, chocolate, coffee, backery. Many local brands are not trusted due to quality concerns. Chinese choose premium products if it is connected with their lifestyle, health and children – baby milk powder, toothpaste, cooking oil.
Shopping tours to EU, USA, South Korea and Japan are popular for buying luxury goods, brand bags, jewelry, ordering classic cars etc.