Real per capita consumer spending in China fell by 0.2 percent last year. This was reported by the National Bureau of Statistics on Tuesday. Reportedly, the strict pandemic control measures were to blame, as they have curbed consumer spending. It is only the third such decline since record-keeping began in 1980. China last saw a similar drop in 2020 during the first phase of the Covid pandemic, back then of as much as four percent. In 2021, the economy recovered, and with it, per capita spending by 12.6 percent.
Continue reading now
… and get free access to this Professional Briefing for a month.
Are you already a guest at the China.Table? Log in now