Consumer Trends: An expanding consumer market in China will benefit the world

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01:53

With the announcement of new measures to further open the country's consumer market, what are consumers saying? CGTN's Ning Hong explores how some of the country's biggest shopping malls are showcasing products from around the world.

It is a big market, and it is growing fast. In Beijing, shopping malls are packed with people during working hours. Products from across the world can be found here, and every shopping mall across the country.

NING HONG BEIJING "China's consumer market is getting really big and constantly evolving. The need for quality products and high-end services is also rising, especially among those rising middle-class and young people. So having more international brands and imported goods here will also satisfy the need of Chinese customers."

At the ground floor of most shopping malls in China, big luxury brands and imported goods will often take the most space. The products are also diversified, with cosmetics, electronic products, clothes and vehicles.

CUSTOMER BEIJING "Most of the facial masks I bought are from South Korea or Japan."

The need is also based on quality, experience and service. These factors are all shaping competition in the consumer market.

LI YUANYUAN PROMOTION DEPT., CHAOYANG JOY CITY "The core of our business to meet the needs of our customers, the products and services we provide should all align to those needs."

On Wednesday, China announced that it will reduce tariffs for consumer goods for daily consumption by as much as 12 percent. It is the fourth time that China has reduced tariffs for consumer goods in three years. It is believed this will further boost competition in China and help satisfy the needs of Chinese consumers. Ning Hong, CGTN, Beijing.