Private consumption, which accounted for more than 60 per cent of Chinese growth in the first three quarters of 2019, has been under constant pressure during the 18-month-long trade war. Photo: EPA

China’s consumer spending on services and in smaller cities to pace growth, e-commerce giant JD.com says

  • Consumers in smaller cities spend most of their income on essential items, leaving room for increases in discretionary spending if incomes rise
  • Consumption contributed to more than 60 per cent of Chinese growth in the first three quarters of 2019, but has been under pressure during the trade war
Topic |   China economy
Private consumption, which accounted for more than 60 per cent of Chinese growth in the first three quarters of 2019, has been under constant pressure during the 18-month-long trade war. Photo: EPA
READ FULL ARTICLE