Chinese Cozy Up to E-Commerce

China Market Research Group's Shaun Rein says a new breed of younger, more affluent consumers will drive e-commerce on the mainland

Many analysts argue that Chinese consumers are conservative spenders and not willing to buy on credit or engage in e-commerce. The numbers initially seem to support such arguments as China's household savings rate sits at 40% vs. less than 1% in the U.S. Credit-card penetration is low, with fewer than 50 million cards in circulation for an emerging middle class of 250 million.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.