China is the top growth destination for Asian enterprises which are keen to tap its rising middle class, a private report showed on Monday.
Companies in food and beverage, tourism, leisure and travel services aim to capture the increased spending power of Asia’s middle class, Singapore-based United Overseas Bank said in the report.
By 2030, Asia is expected to account for two-thirds of the world’s middle-class consumers, or about 3.2 billion people, with the majority of them living in China, UOB said in the report citing Brookings Institution.
(Source: Shanghai Daily)