China's economic slowdown has been affecting the revenue of enterprises around the world. ANBOUND’s contributing economist Zhong Wei stated that the income growth rate is slower than the economic growth rate since 2004 and it is the crucial factor that weakens China’s retail industry. In recent years, real estate and automobile has become the main driver of China’s consumption. However, the dynamics of consumption is now weakening due to the restriction on car purchase and excessive supply of commercial residential buildings. On top of that, the consumption is also weakening due to the low income growth. As a result, it is very difficult for the Chinese government to achieve the target of 14.5% growth retail sales this year.