汇丰银行（HSBC）：亚洲人口结构大转变背后的投资机会：老龄化、空巢青年和女性的未来（英文版）（60页）.pdf

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1、Disclosures Indias population should grow bigger than China, while Chinas is set to shrink Meanwhile, Asians are living longer, residing in smaller households, flocking to mid-tier cities, and saving more We identify some big picture implications: empty-nesters trading up, a female future, and risin

2、g spending on health We build on our previous research on Asias demographics with a new series. This report focuses on long-term investment themes shaped by demographics, while in the accompanying notes we work with fundamental analysts to highlight stock opportunities, starting with the consumer se

3、ctor: Asia Demographics Tectonic shifts ahead for the consumer sector, 4 August 2020. Big changes are not only around the corner. Before the end of this decade, India is expected to surpass China as the worlds most populous country, which should swiftly be followed by Chinas population declining. Ma

4、rkets will start to consider the implications well before this happens. For instance, companies need to position themselves for slower volume growth, and instead work on their ability to raise prices possibly by offering better quality products. they are also happening now: Asians are getting older,

5、 living longer, and flocking to mid-tier cities. Theyre also residing in smaller households while women are having fewer children and working more. All this impacts consumer spending. While COVID- 19 continues to cast a shadow over the regions economy, it is also accelerating some long-term trends t

6、hat were already underway like more online shopping. An academic view: We also interviewed Dr. Stuart Gietel-Basten, Professor of Social Science and Public Policy at HKUST. He stated that it is possible for very low fertility rates to become more common in the region. Further, he suggested that it w