Citibank published research indicating that a recent online consumer survey of approximately 2,500 Chinese consumers shows that most respondents reported a good financial situation and expect to increase their spending in the next 12 months. Among them, 63% of respondents shop several times a week, and about 49% shop between 6 to 10 times a month. The report indicates that the survey reflects an increase in consumer spending on e-commerce platforms during this year's Singles' Day Sales, believing that government subsidy measures effectively boost appliance demand, while consumers also indicate a greater willingness to spend more on travel.
In selecting stocks on China's e-commerce platforms, Citibank's preferred order is JD.com, Alibaba, and PDD Holdings.
