From Frank Holmes of U.S. Global Investors:

With home and auto purchases growing at an average 34% and 22% annual pace in the last decade, respectively, Chinese households have already acquired a significant number of material assets.

Deutsche Bank thinks tourism could be the next major driver for overall consumption in China.

In the next five years, in line with the government’s plan, tourism-oriented travel might undergo tremendous expansion, as Chinese consumers opt for more services-related expenditures instead of real estate and durable goods.

... This acceleration in tourism growth should benefit...

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