By 2009 China will become the largest consumer market in Asia said Chinese Minister of Commerce Chen Deming.

    Speaking at the 12th Xiamen International Trade and Investment Fair on Monday in the east Fujian Province, Chen predicted entertainment, housing and tourism will expand their shares in the domestic market.

    "As one of the world's fastest growing consumer markets, China is a world leader in mobile phone sales, domestic tourism, and broadband network penetration," said Chen.

    He also noted China is the second largest seller and buyer of gold and automobiles in the world. The country ranks third in consumption of luxury items and health care supplies.

    The average per capita GDP reached 2,456 U.S. dollars last year, said Chen. He added that consumption had bigger shares than investment for the first time in the nation's economic growth.

Continued at Xinhua News