"A decade ago its retail-goods market was about $1.8 trillion - less than half that of the United States. In 2019 that market reached $6 trillion, surpassing the U.S. level of $5.5 trillion. Even now China's private consumption represents only about 39% of its GDP - way below the U.S. level of 68% and the world average of 63%. That leaves much room for growth and many opportunities for investors, particularly in businesses that cater to consumers."
A fascinating interview with Weijian Shan, CEO of PAG, a $40 billion private equity firm based in Hong Kong.