By  on January 23, 2020

LONDON — Despite the coronavirus outbreak, which is threatening spending ahead of Chinese New Year, China will continue to be the driving force for retail growth in the new decade.

The country’s online retail market is predicted to hit $1.8 trillion in 2022, more than double the size of the U.S. market and advancement in technology will play a greater role than any other market in boosting spending, according to the report “Luxury Chinese Consumers in a New Decade: 5 Macrotrends Shaping the 2020s.” The study was released Thursday by Reuter Intelligence, the research and insights arm of the Shanghai-based Reuter Communications.

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