The Politburo, China’s top decision-making body headed by President Xi Jinping, renewed its call for the government to tap the large potential for consumer spending by China’s growing urban middle class. Photo: EPA—EFE

China’s consumers reluctant to spend income despite need to offset trade war impact, survey shows

  • People’s Bank of China survey of 18,600 residents from 31 provinces shows income constraints and preference for saving money trump willingness to spend
  • China has gradually shifted towards a consumption-driven growth model in recent years, but government needs to offer more incentives to overcome obstacles
Topic |   China economy

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The Politburo, China’s top decision-making body headed by President Xi Jinping, renewed its call for the government to tap the large potential for consumer spending by China’s growing urban middle class. Photo: EPA—EFE
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