In the past two years, the downward pressure on China's economy increased, the industries experienced prolonged downturn and the investment growth, especially private investment has declined.

However, in light of the overall economic downturn, we should not neglect a structural change – China is transforming from an economy powered by investment to one driven by consumption.

The research team at ANBOUND Consulting is of the view that we should keep a cool head during the economic transformation and avoids getting sidetracked.

The time has come for China to transform into a consumer society; both the government and enterprises alike should take the initiatives to embrace this new era by adjusting their development mindset, their policies as well as their resource planning.

Whoever captures the heart of the consumers in China, a market with a population of 1.3 billion, seizes the future too!