0217 GMT - China's consumption growth may continue to be driven by Gen Z and the elderly population, HSBC Global Research analysts write in a note. The analysts see secular growth opportunities in interest-based consumption by young consumers and wellbeing spending by senior consumers. Consolidation is likely to become another major theme in the consumer space, but consolidation opportunities are becoming rare due to increasingly fast-paced channel and format innovations, they add. Digitalization and branding will be the key drivers for industry consolidation, they say. Among the consumer stocks, Nongfu Spring, Guming, Mixue, H World, Laopu Gold and Mao Geping could gain market shares in their respective segments.(jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

January 15, 2026 21:17 ET (02:17 GMT)

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