There are signs of weakening consumer spending in the world’s second largest economy, with growth having in China decelerated to its lowest level in nearly three decades at the end of the third quarter. Illustration: Dennis Yip

China’s consumption downgrade tastes good for fermented tofu makers

  • Under pressure, consumers in China are cutting back on spending on high-end items, while sales of instant noodles are rebounding after two years of decline
  • Weakening consumer spending comes as economic growth decelerated to its lowest level in nearly three decades at the end of the third quarter
Topic |   China economy

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There are signs of weakening consumer spending in the world’s second largest economy, with growth having in China decelerated to its lowest level in nearly three decades at the end of the third quarter. Illustration: Dennis Yip
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He Huifeng

He Huifeng

He Huifeng is an award-winning journalist and has been focusing on mainland news reporting since 2001 for several overseas media. She has gained an in-depth knowledge of political, economic and social issues on the mainland through years of close observation, which has given her a love for journalism in the field.