Both the Shanghai and Shenzhen composite indices had risen 12 per cent and 32 per cent this year before falling by 7 per cent and 8 per cent respectively this week. Photo: Reuters
Could China’s stock market rally, direct subsidies help boost sluggish consumer spending?
- China’s overall economy grew by 3.2 per cent in the second quarter of 2020, bouncing back from a 6.8 per cent contraction in the first three months of the year
- But total per capita disposable income dropped 1.3 per cent from a year earlier, while real per capita consumer spending fell 9.3 per cent in the first six months
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Both the Shanghai and Shenzhen composite indices had risen 12 per cent and 32 per cent this year before falling by 7 per cent and 8 per cent respectively this week. Photo: Reuters
