Retail Savings & Investments in China: Coronavirus (COVID-19) Sector Impact
The Coronavirus (SARS-CoV-2) outbreak, dubbed COVID-19, is first and foremost a human tragedy, affecting millions of people globally. The contagious Coronavirus, which broke out at the close of 2019, has led to a medical emergency across the world, with the World Health Organization officially declaring the novel Coronavirus a pandemic on March 11, 2020.
Fears surrounding the impact of COVID-19 have significantly impacted the global economy, with key stock markets across the world losing 20-50% of their value year-to-date. Many economists and institutions have cut their forecasts, with many experts predicting the potential onset of recessionary environments.
A similar trend is expected in China as well, as economic growth in the country is expected to register a dip in the first quarter of 2020 and will decline further if this disease relapses. The real GDP growth rate for China is expected to decelerate in 2020. The decline will have an adverse impact on all sectors including retail investments.
This report focuses on the impact of the Coronavirus outbreak on the Chinese economy and the country’s retail savings and investment market. It also highlights the measures adopted by the government to combat COVID-19. Based on our proprietary datasets, the snap shot contrasts GlobalData’s pre-COVID-19 forecasts and revised forecasts of total retail bond, deposits, equities and mutual funds holdings in terms of value and growth rates. It also analyses the effects on HNW wealth, examining the importance of different industries as a contributor to HNW wealth.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook