Last year, the sector was worth 1.47 trillion yuan ($2.15 trillion) and is expected to increase by more than 24 percent this year, according to a study by ASKCI Consulting, a research firm based in Shenzhen, China.
A survey released last year by Chinese wedding specialists Hunliji revealed that 42 percent of couples spent between 50,000 yuan ($7,313) and 100,000 ($14,626) yuan on their wedding. Twenty-three percent spent between 100,000 yuan ($14,626) and 200,000 yuan ($29,252), while 5 percent spent more than 300,000 yuan ($43,878).
"Although the demographic dividend is disappearing, the market potential is still huge, as the nation possesses a huge population base," the ASKCI Consulting report states. "In addition, wedding industry demand remains at a high level. The increase in the amount per deal brings new impetus for the wedding industry."
According to China's Ministry of Civil Affairs under the country's ruling Communist Party, lavish ceremonies contradict "socialist values." Weddings should "integrate core socialist values and Chinese traditional culture into the construction of marriage and family," the ministry said in a statement, Asia Times reported Tuesday.
"[We] should adhere to [a] simple marriage etiquette [which] should [conform] to a good social trend that advocates diligence and thrift, and opposes extravagance and waste," the ministry added.