The report also found that far fewer students are coming from Saudi Arabia, a shift that began in 2017 after the Gulf nation scaled back a scholarship program for global study. There were also dips in students coming from South Korea, Japan and Mexico.
The report said structural changes in consumption will gradually enhance the impact of services on CPI. In addition, the CPI is set to show a high-to-low year-on-year growth trend in 2019, with the annual inflation level expected to be around 2.2%, the report said.
The report named several platforms - including Tmall Global, owned by e-commerce giant Alibaba, NetEase's Kaola, and the fashion and beauty products retailer Xiaohongshu.
The report also noted that unmarried and female groups take up the majority of online pet consumption, as more and more young consumers are no longer limited to the traditional mode -- getting married and giving birth to babies.
The report showed that takeout services had a direct impact on the sales revenue and profit growth of the sector. According to the CCPIT Academy's survey, during the past three years, the contribution rate of takeout service to restaurants' sales revenue and profits has been increasing on a yearly basis. In 2019, takeout service contributed to 75 percent and 65 percent of the increment in total sales revenue and total profits of the catering industry, respectively.
The report comes just a few days after Apple reported its own blockbuster quarter, surprising some analysts by selling a whopping 15.43 million iPads. Asked about the rise of the Kindle Fire on the earnings call last week, Apple CEO Tim Cook said that “we don’t really see the limited function tablets and e-readers as being in the same category.”
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The report says combined growth for the major industrial economies is revised upward to 2.2 percent for 2017 and 2 percent for 2018, due to robust domestic demand in the euro area, and in Japan due to private investment and net exports.
The report highlights increased activity level in the Asia-Pacific region thanks to increased national ambition, led by China where 52 GW of new offshore wind capacity is expected to be installed by 2030.
The report said there will be continued strong growth in the video surveillance equipment market, and China will be a major source of the industry's revenue and growth.
The region will build or upgrade 10,000 km of roads in the countryside to further improve local transportation conditions, according to the regional department of transport.