DALIAN, China -- The pet industry is growing fast in China despite the slumping economy as more young people choose to live with dogs and cats rather than having children, creating business opportunities in the burgeoning market.
Panasonic expands offerings with industry growing even amid economic slump

Around 75 million Chinese urbanites had a dog or cat in 2023, up 30% from 2018. (Photo by Nikkei)
DALIAN, China -- The pet industry is growing fast in China despite the slumping economy as more young people choose to live with dogs and cats rather than having children, creating business opportunities in the burgeoning market.