China's economy may not be declining but its growth is slowing. According to Kestrel Lee, executive creative director, China, Freeman, event marketing budgets in China have declined by 10% in the last two years. He also divulges on whether this slowdown in growth is affecting the automotive sector, one of China's most lucrative event sectors.
On top of that, Lee highlights the growing industries in China including beauty, smartphone, and health foods. "Chinese consumers are becoming more selective in what they buy partly because they are apprehensive of the trade war but they still want to enjoy their lifestyles," he said.
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