China’s Struggling Consumer

CHINA ADVISORY - Report 12 Sep 2024 by Andrew Collier

Some Recent consumer data shows the Chinese economy steadily weakening. We look at several key data points pointing to the decline.

Declining film box office revenue:

The totals for film revenue is down 43 percent for the three months from June through August. According to a senior film executive in Beijing, that decline is due both to a lack of exciting films and the slowing economy.

Domestic films contributed approximately 75 percent of the box office revenue, while the share of imported films increased compared to last year. The number of new releases surpassing 100 million yuan, a record high for this period, but there were fewer films with revenue above 500 million yuan and few blockbuster films in the 3 billion yuan range.

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