Millions of middle-class Chinese are tightening their belts, not “daring to spend” until a solid economic recovery is in sight.
Easing unemployment pressures and lifting prospects for public wealth growth are among key tasks mapped out by top Chinese leaders for the new year, as the post-Covid economy struggles against persistent deflation risks amid a property market slump and bleak business sentiment.
Read more : https://www.scmp.com/economy/china-economy/article/3246222/chinas-middle-class-does-not-dare-spend-until-post-covid-economy-shows-clear-signs-recovery (SCMP)
